Next move

[Khaleef Saunders]

I'M new to the game and was wondering if anyone could offer any suggestions of possible next steps for me. I was left a house from a family member of mine: Located in a low income area, probably built in the 50's, has been partially gutted out. I know it originally cost 50,000 but I havent puy any money into it. Just by looking at it I can see the rehab will be extensive. Ive been made several offers ranging from 50,000-57,000. I declined because Id didnt want to rush into selling it without any knowledge whatsoever. The street its located on is low income but 5 blocks away houses are selling for 400-500k. The area itself its developing but slowly.