Rehab a property w/fire damage property sold at land value?

[Shiwan Tate]

Hello All,

I'm new to the real estate business and I am curious about others perspectives on rehabbing a fire damaged property. I am considering this piece of property as my first rehab the cost is $35K. My thoughts are to demolish the entire property and rebuild using hard money. I would be saving money on the foundation as it is already done. The property is located one block from a college campus which is why I think this property may be a good starting point for me. What are your thoughts?