Although not all fires of course burn the whole house down and I suspect your quite capable of doing your own restoration yourself for far less than the average arm chair investor ??  

If you can identify what the property needs in order to be restored then you can calculate the price you need to purchase it for in order to make sense.

Or, hit the ReStore or thrift store for a bright orange 70s table lamp

I work for a Plumbing/Restoration company and I cant tell you how many houses we go to, to try and rod a main sewer line on a house that was recently purchased.

@Colby Shelhorse I used to remediate mold as part of my job in a residential restoration company.

With majority of my free time I dedicate it to my demo and restoration business.

After everything was restored to it's previous state the insurance company offered me a 'freebie' to install auto shut off valve with the help of a water security company referred by them.While I did proactively follow-up with the water security company it was very challenging for both me and the water security company to find a professional who can do such specialzed work involving sensors.I spoke with the insurance broker and they told me there is not much they can do except end up paying a higher premium to the newer insurance company if my current insurance company cancels the policy.I now feel being penalized for no mistake of mine.Appreciate any advice from experienced members here.Thank you.

Then my house caught fore and in the process of restoring it realized this was exactly what I want to do and can do it!  

I figured I'd grind it out with enough upgrades, security and restoration that it would be manageable for a year or so - while using the money saved to purchase and invest in something better.

So far so good in terms of  addressing disaster recovery.However the flooring now looks patchy and it doesn't look the same  as it was before the incident.The water damage restoration company told me 'Guaranteed Rebuilding Cost' addresses this patchy scenario to payout and redo the entire flooring and the insurance company is supposed to pay me to redo the entire flooring but the insurance company never came back to me after the initial disaster recovery.