Rebuilding on foundation of property totaled by fire?

[Steven Drumwright]

Hey guys just looking to get some insight on a deal I am considering. New investor looking to do it right the first time. I have a lead on a lot in a well established residential neighborhood. This lot includes a foundation stubbed for electrical (underground)/plumbing/sewer/water etc. the former property was deemed a total loss in a house fire and the prior home owner cleared and stubbed the foundation (slab on grade). I have contact information for the builder of the prior home and a relationship with the Director of code and enforcement of the county. What are some of the things I should be concerned about or should consider? The property that burned was built approx. 2001, 3/2 with single garage about 1300 sq/ft. Comparable Homes on the area are selling around $129k. Asking for the lot and foundation is $25k which in my opinion is a bit higher than It should be. Is it reasonable to think I could rebuild this home all in for $100k or less and sell for $139k?