Yes. Don't be scared, just make sure everything is 99% safe - as safe as it can be - and you won't have any problems. Don't get sloppy and leave things around that might cause a fire (I'm guilty of it myself)For most of us, "fire proofing" just means using excellent electrical habits regarding water and GFCIs, grounds, overloading, proper wiring, and having smoke detectors.
Asbestos!!! Are you kidding me!! That shit will kill yaif you hang drywall it will deter fire ,but asbestos board would be your best bet,but its bad for your lungs when you breath the dust when cutting it