I Need More Help!!! Question about rehab

[Karen Hurd]

I'm a newbie and I have a newbie question. Okay, as you prob know, the "Sandy Houses" here on Long Island are going up for auction. The Big Tim Investors have been chatting about this like a bunch of old hens!! Anyway, A property close to the area of Freeport/Long Beach (where Sandy hit hardest) is not on MLS yet and was given to me. It's in a very affluent area, on the water, with great schools and all that Freeport/Long Beach does not have.

The realtor who offered me the property said that it needs one of 2 things. Either 100,000 worth of work or to be torn down and made into a mansion. 

I'm wholesaling and I haven't come across this scenerio before. How can you run numbers taking off 100,000 for rehab?

I'll take all the advice I can get!!

Thanks in advance,

Karen