The insurance company may cover some or all of the restoration costs.Scope of Work and Budget:Detailed Inspection: Get a comprehensive inspection to identify all areas of damage, including hidden issues like electrical, plumbing, and HVAC systems.Cost Estimation: Obtain detailed cost estimates for the restoration or rebuilding process from licensed contractors experienced in fire-damaged properties.Environmental Hazards:Asbestos and Lead Testing: Older properties may contain asbestos or lead, which can become hazardous after a fire.

I've tried pivoting to doing a live in fix and flip but am terrified of finding a solid contractor/it's hard for me to estimate how much it would cost to fix things.

After thorough research and initial assessments, I estimate the rehabilitation costs to be approximately $250,000. 

In small college town with high rental demandAsk price 745kGross rent: 9750/mth 177k/yr     (differed maint properties with potential 200/mth per unit increase once renovated) estimated reno (190k across portfolio)NOI: 91,475/yr   (12.6 CAP)    (includes tax, ins, listed maint for past yr)     After reno NOI 127,475/yr   (14.6 CAP) Deal info:    - Owner finance 745k 20yr at 6% 20k down minus deposits (~13k)Cashflow  = 2100mth     (self-managed) (self maint similar to the previous owner)By this alone, 2100 cash flow added per month, it will put me at my financial freedom number of monthly cashflow is equal or greater than my families spending amount.

The benefit of doing this is I could get 2 traditional 30 year fixed mortgages and the ARV of each property I estimate to be $380k for the duplex and $450k for the triplex.

I see people selling STR's and when I request their insurance to estimate cost I see regular rental policies. 

I have some properties I have been watching for my investors all the way from Traverse City to Detroit, I'd be happy to share those with you along with their estimated cash flow and appreciation!

As a buyer, I'd want to see more on your expenses estimates.

The rehab estimate is about $150,000 but it could go as high as $220,000. 

(I was obviously wrong about this as that property is currently estimated to have a value of $540,000.00.)