Tend to agree with the previous answer. My question is are you doing the work yourself or hiring a contractor.
If you are hiring a contractor, it would be a good idea to get his opinion as to what you are getting into before you take the plunge. Depending on the part of Carson, I highly doublt it would be 400,000-500,000 by the time you get done. Would depend on the neighborhood and the house when its done. Find out about the permits from the city about the house, Ask about the copy of the old Inspection Report and with the agent's permission ask the city about the permits.
Good luck to you,