We listed all the things left to be done, separated the labor from material cost, and figured out that 55k is needed to finish the project.

Is there any recommended reading material for investing from afar?

Search "Do Hard Money" as well as "dohardmoney" and "dohardmoney.com"  You'll have plenty of reading material about them.

I want quality plumbing fixtures with good internal workings (typically brass), but aren't sure if that's still possible at a decent price.If you're holding - not flipping - what type of fixtures are you using?

The insurance proceeds will be covering up to most of the policy limit but that may not cover the cost to complete a new build with the materials necessary to get the most profit on the back end.Time wise, due to all the bureaucratic delays in our city and pulling permits, architectural plans, etc.

You do not have to be a Real Estate Professional to take advantage of this active investment classification if you provide the material participation requirement.  

In addition, since you are materially participating in it's management more than anyone else, it is an active rather than passive investment.

Mitigating extensive fire damage could very well be more expensive than rebuilding from the ground up.Also keep in mind that state laws will likely require you to disclose any material defects or damages to the home - even if they've all be repaired.

There's a lot of material online that you can learn from so use that to your advantage.

You can even deduct miles driven to the property from TN!