You'd have to completely demo anything that burned or had bad smoke damage and build it again from scratch.

First, tear downs gets a bit out of the average investor's arena since there are so many contingencies of demo, debris removal and remediation of lead and asbestos of old homes.

I did all the demo, tile work (never doing again), install cabinets and hardware, (they were new box cabinets from a wholesale cabinet company), installed finish plumbing, installed appliances, pressure washing of fence, drives, basement walls, framing of washer/dryer walls and a lot of minor things along the way.

And here is a rough breakdown of the repairs (I noted the items where we supplied the labor):Demo: $500Attic finishing (rough carpentry, insulation, drywall, trim): $4,500Plumbing (move bath vanity; new fixtures in bath & kitchen): $1,050Electric (move range outlet; remove old fuses; replace all switches, outlets & fixtures): $750Wallpaper removal & paint throughout (material cost only - our labor): $600Kitchen cabinetry & countertops (replaced w/ used cabs from Craigslist & reclaimed soapstone counters; material cost only - our labor): $850Appliances (new refrigerator; used range): $500Interior doors & hardware: $500Flooring (vinyl floors in attic & kitchen; material cost only - our labor): $1,500Windows: $1,600Asbestos duct removal: $500Misc. carpentry (trim repair; closet shelving, etc; material cost only - our labor): $300Exterior work (gravel; landscaping; paint; material cost only - our labor): $350Utilities: $200Misc: $500TOTAL: $14,200

Eventually I think you could demo them and rebuild with better looking, more efficient space.

The house was completely gutted: no sinks, no tub, no plumbing, no dry wall, no flooring, no ceiling, no light fixtures, no HVAC whatsoever, just studs, siding, some windows, and a roof.Not only do the HAZMAT guys charge a lot, you have to pay for special disposal of these demo materials, not cheap.

If things appear decent enough my idea is for my husband and I to purchase and put in major sweat equity to demo and remodel.

The one a block over, currently being renovated had $40,000 of asbestos demo cost/remediation. 

Oh deffenitly go for it, my husband and I do as much as we can on our own (luckily my husband has experience in some construction areas and his profession is installing AC units and air duct) But we both do a lot of work like demo, sheet rock, painting, installing the cabniets even the roof.

I’m not sure if it’s worth the expense to demo plaster and hang drywall (or, maybe hang drywall over the existing walls?)