best options for a huge beat up rental property passed down

[Kameron Eden]

Grandpa passed away and left me one of his rental properties. 6bed 6bath 2,952 sqft on Zillow its estimate is $34000 and needs major repairs. Im not sure what would be the best option. its paid for so would it make sense to finance a rehab with some type of loan. to have the loan take the place of the would be mortgage to get it up and running. Or should I think about selling it I know it wont sell for much.

Ive checked all over the web, but everything is on how to buy or rehab a fixer upper that has a mortgage. if anyone knows a great forum post about this please send me a link

[Bjorn Ahlblad]

@Kameron Eden welcome to BP, and you already have a property! There is a book called 'Accidental Landlord'. Written just for you!

Please give us some context-maybe we can help better?

What are your goals? What would you like to do?  Do you have any land lording skills? Are you a handy person? 

Is the building occupied? How many tenants, how many paying rent? What is the total income? Taxes paid?

Any idea of the major repairs needed? How come it has a Zillow valuation-is it listed for sale?

Give us some background-there is a small army here ready to help you spend some money and hopefully make a pile in the process. All the best!