Buying a 2 bed 1 bath no basement, needs gutted

[Dave Neeley]

My niece is selling me her house for $11,000. The issue is it needs gutted , It has water damaged where plumbing line burst and house was vacant at the time. I am estimating it might cost $20,000 to fix. I was planning on renting it out after it was fixed for $550. 2 bed homes are going for around $35,000 to $40,000 in that area. Is this something worth pursuing?