Full gut rehab estimate ballpark!

[Miranda Wright]

My husband just put an offer on a “fixer upper” of 95k. He was approved for a construction loan of 200k total. This house is 2500 sqft and we haven’t even had a contractor give us an estimate yet. According to the contractors advice, the electrical is in good shape. But needs new hvac and he did say that would be 10k. The house was built in 1899 as a store and half renovated as an apartment, but all that will have to be removed and redone. The house has no walls downstairs, so they all need to be put up. It only has one bathroom and we don’t know about the plumbing. We are in northern Kentucky, and I am so afraid they’re going to take his offer and we’re going to be stuck with this house and not be able to afford to fix it the way we want it. I know they’re all estimates, but would it be possible hypothetically if there are no major foundation, plumbing, electrical/any other huge jobs to get it done (at least livable with a floor plan) with 100k or less?