Help and Thoughts wanted on Deal.

[Bradley Aaron Rudisill]

I am currently looking at a 4 BR 2 BA single family home.  The purchase price is $90,000.  There is standing water in the crawlspace, some work to be done on the kitchen floor, and some electrical work.  I am estimating around $50,000 in work.  If you were going to flip and sell do you think this is a deal or should I make a lower offer than asking?