Home too dangerous to enter?

[Karah Collins]

Hi all,

Was browsing new listings this morning and saw a home on the market that looked really great....aside from the giant hole in the ceiling over the kitchen! Apparently the home is now lender-owned and has been deemed to dangerous to enter.

Have any of you ever dealt with a property like this? How did you assess the damage? Did you take a calculated risk based off of estimated ARV, comps, and past experience with damaged property?

Its very compact (3b/1 ba, 1054 sf), so even with some structural repair to be done, I cannot imagine a gut rehab to be extremely costly. FYI, this seems more attractive as a flip deal rather than a buy and hold.

Thanks!