You don't mention the square footage, but given those numbers, it's almost possible to tear down, rebuild and still make a decent profit (at the $250-300K ARV)...I certainly wouldn't pass on this one without seeing it...

I'm not talking about destroying a whole bathroom that was meant to stay but more like not knowing exactly where to stop, thus you have to do a bunch of extra work to rebuild what shouldn't have been taken out in the first place!

But if it is destroyed by natural causes or a tenant then you can rebuild it as it is currently taxed.

I want to cover subject like, Avoiding Foreclosure (this could be more then one, IE Short Sales, forbearance, Foreclosure law, etc, etc) Credit rebuilding, Refinancing, and anything else people want info on related to Real estate.

[size=18]Mortgage Insurance for Disaster Victims - Section 203 (H) [/size]Summary: The Section 203(h) program allows the Federal Housing Administration (FHA) to insure mortgages made by qualified lenders to victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home.Purpose: Through Section 203(h), the Federal Government helps victims in Presidentially designated disaster areas recover by making it easier for them to get mortgages and become homeowners or re-establish themselves as homeowners.

On the place I'm trying to get closed, the apprasial came in at $125/sq.ft. while the insurance agents used $100/sq.ft. as cost to rebuild.

A scrape/multiplex rebuild that's popular around here, though very unpopular with neighbors.

I do Complete Rehab, water fire, mold damage restoration, mold inspections, (re-builds) drywall, painting, post construction cleaning, carpet installtion and tearouts, new flooring, property management, I have 11 certifications, 2 are Master Certifications.

So, if there is a condemned house on the property, once it's torn down, you aren't allowed to rebuild.

The actual title here is Diary of a Real Estate Rookie: My Year of Flipping, Selling, and Rebuilding and What I Learned (The Hard Way).