Need help on follow up decision

[Zach Brewer]

A friend from work informed me of a vacant house in his neighborhood and had said the owner was looking to get rid of the property. I jumped on this opportunity and contacted the owner (via mail, which did not get a response, but showing up to his door, did) to set up a time to look at the property. Once inside, I found this. This picture alone shows the in-depth work that it will take to get this property cash flowing. This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing. The MLS shows this property valued at $105,000, with the low end being $95,000. The owner wants a considerably low price.

The homeowner had started doing repairs to the house but did not pull any permits. 

My question is, should I redo the house and have MO down my throat about this house, or start fresh and do a modular home? I have options just not sure which to entertain.

Thank you for taking a look!

[Jonathan Greene]

If haven't done any renovations, walk away. If you can't get the rent to $1,000/month at a minimum, walk away. If this would be your first investment property, walk away. There is a reason someone tried to renovate it and stopped and it's not just because they ran out of money.