Condemned & boarded up building - is it worth looking into?

[Violeta Skarpeta]

I have no experience doing gut renovation, but if I can get that building for under 10k and toss say 70k into it, I may have a nicely cash flowing property. Thing is: how do I know what it would really cost to make it liveable? How can I tell if it's a tear down?

Has anyone ever invested in a condemned property?