Has anybody wholesaled a fire burned or water damaged house?

[Kevin Romines]

I have flipped in the past via purchase on contract and flip via lease option or contract. I happened to drive by a home the other day that recently had a fire. I inquired about the house with a fireman that worked that call, that I also work with as an insurance agent and found out the owner was rehabbing it to then sell when the fire took place.

This started me thinking about wholesaling a fire or water damaged property? The insurance company will pay the damages, and then I can get the property under contract and flip it to a rehabber or even a fire / water restoration company at a great discount?

I havent put all the pieces of the puzzle together yet and thought I would throw this out there for advice from those that have done something similar to this?

Thanks in advance for your guidance!!!