UPDATE 2/18/15 9am: Authorities say they are no longer searching for a suspect and no threat exists.

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Original Story:
A man called 911 shortly after 4am and told authorities that he had been shot and his Lake Odessa home was on fire.  The home is located on 3rd Avenue.  WZZM-TV reports authorities are now searching for an alleged gunman but dispatchers are not releasing a suspect description.

The man was shot in the arm. Story developing...