Rehab & Sell, Rehab & Rent Out, or Just Sell?

[Joe H.]

Hey everyone, I'm completely new to the real estate game, but wanted some perspective on a piece of property that I have inherited with my two siblings, so I myself have a one-third share. It is half of a duplex, 1 BR 1BA, roughly 1000 sq ft, located in Culver City, CA, fully paid out. My late uncle smoked heavily in the house (with the windows up) for decades, and did some of his own "customizations" to the property. Essentially, the interior is nearly destroyed. We still need the property appraised, so I know my inquiry is premature. However, I think I could still benefit from the first-impressions of experienced investors here. Is it better to fully renovate and rent out (the cash flow after expenses will be divided in three), fully renovate and sell (then each one of us can make our own investments with the money), or just sell it as is, with pieces of drywall ripped out, and brown, nicotine-infested interior. Hypothetically, let's say we have the resources to renovate, but I don't have the cash or the drive right now to buy out my siblings. However, any and all considerations will still be made.

Thank you, all!