need help with estate home options

[N/A N/A]

My wife and sister-in-law inherited a home when their mother passed away.The home has been on the market for about a month in a "as is" basis,with no viable offers to this point.I am making cosmetic repairs and have estimates for the larger issues,roof and plaster.My choice is to pull it off the market,make all repairs,paint,carpet,so on,and put it back at a higher price,I would have to get a loan on its equity(it is paid off)to pay for this.My other thought was to try and get as much equity out as allowed,pay off the sister-in-law,take our share and pay some bills off,then rent the house out.Iam kind of going in circles thinking which way to go and would appreciate your thoughts on what options are the most profitable,thanks.