$45K for a renovation and rebuild plus architect and permit is not doable in our area. 

I still plan on waiting a few years and just working with him and taking a percentage of the successful leads which I provide and just saving and rebuilding my credit.

Knock it down and rebuild for something that smallNot only will costs be close to equivalent but you will have a new construction house versus a house which was repaired with a bad foundation.

If you are planning to invest in a year from now, that should give you sufficient time to rebuild you credit.

At this price point it makes sense to do a tear down & rebuild.  

If the burned out property is a Walmart and they're in the process of rebuilding then yes.

I'm having a hard time getting started as I see deals I want however while rebuilding my credit I'm  sitting about a 620 and I have close to 12k in savings that we have saved but from what I can tell that is not enough to obtain a home as I already have a primary resident.

I've found a potentially great deal but two sets of contractors have identified extensive foundational and termite damage and are recommending a demo/rebuild.

Lost the window, had to rebuild the deck and part of the roof along with a portion of the wall.We were insured by Safeco.

Should I be looking at policies that cover me for rebuilding the property in the event that is totally destroyed?