Fire Damaged Property

[Johnny Kang]

Anyone have experience purchasing a fire damaged property?

I got an off market 3 family, where there was fire on the 3rd floor a few months back and the family is contemplating whether to use the insurance money to fix it, or to take the money and just sell the property. 

I haven't seen it yet (she just called this week), but I want to know some of the things I should consider in - not only in making an offer, but what to factor in when calculating rehab cost, any new code I would have to abide by which will affect the rehab cost, etc.