Lead on fire damaged house in upcoming neighborhood Houston, TX

[Rawn Wilson]

I just finished a flip (complete gut rehab) in a neighborhood where prices are soaring.  My house listed for 205K and we have multiple offers at 220K.  The house across the street suffered fire damage and will need a complete gut.  Half the house will need to be re-framed.  Will need all new electrical, plumbing, sheetrock, fixtures, etc.... This is basically what I just did, but I am not familiar with fire marshal and city of Houston codes and permits for fire damaged houses.  Anyone in the area experienced with this?  I would jump on the deal because I am not afraid of the amount of work, but hesitant because fire damage.  The house is a 3/1/1 and about 1300sqft, but can easily be made a 3/2/1 and really open up the kitchen/living areas when reframed.  I have walked the entire property inside and out.  Seller is asking 49K, but I believe it is negotiable.  I estimate 100-120K in rehab costs.  I have electricians, plumbers, tile guys, roofers, painters, etc.  Would need a good framer.  I believe this house would market about 200K-210K when complete.