My neighbor just passed away and I’ve got first dibs on the house. When finished it will be easy to get 300k for, likely closer to 330k.  I’m planning on paying 150k for it. 

It’s a 1000 percent gut job. Every single inch needs to be replaced. There are likely hardwood floors under that carpet. 

It’s about 1100 square feet with a detached two car garage. 

The cigarette smell is a major concern for me. Whoever buys the house will end up my neighbor and I won’t want the smell leaking through on a rainy humid day. 

If I take it down to the studs, will that be enough? I’m worried about the slab and the attic insulation and the studs. 

New furnace will go in and I’ll have the vents cleaned. 

This is such a competitive market I don’t want to pass it up but it’s hard to do the numbers. I don’t need to get rich, but I also don’t want to go broke. 

I think the whole TSP, Kilz type product won't suffice, so I was thinking I would just re Sheetrock it all.

Am I crazy?