Foundation issues: Is this a good investment?

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Hello. I would like your feedback on a opportunity from a wholesaler. The house is in a good location. It built 1950s, 987 sq ft. It is a 2x1 but has potential for a 2nd bath. The issue is the framed house is bowing inward slightly, so foundation issues is definite. This is not a slab foundation. Some of the boards under floor are are rotten, which I think that is why the house is leaning inwards. ARV is $110,000 and I'm going to offer $28,000, which gives me $40,000 for rehabb. The house has not been livable for a while so an whole gut job. I want initiate Brrrr strategy, but I have not dealt with foundation before. I'm thinking 8,000 for foundation plus whole rehabb. Does the numbers sound realistic? Advice please. :)