Inspect damaged materials for mold and mildew. Mold can start to grow in the right conditions in as little as 24 hours. For long-term issues, like mold caused by attic condensation, the mold may have started growing a long time ago. And if you find mold and mildew issues, you need to be very careful. Some mold is toxic to humans, and all mold is very damaging to the materials it infests. For small mold issues, cut out the material, bag it, and throw it away immediately. For serious mold issues, get out of the area, shut down any airflow (to avoid spore contamination) and call a professional. And keep in mind that mold can show up in hidden areas like inside walls or under floors, so this inspection and water damage repair will be ongoing.
Wanna keep things really cheap? Do it yourself! In some cases, minor mold problems (less than about 10 square feet of mold) in places like a bathroom corner can easily be handled by a handy homeowner with a free weekend afternoon and a few basic supplies from the hardware store. For more information, see our previous post on the subject: Do I need a Mold Remediation Professional?