Remodel, wait, or bulldoze

[Brad Ralston]

So, pretty new to real estate, bought the crackhouse dive across the street from me mainly to get the deadbeat owners out and clean the place up. It's a really old  3 bed 1 bath house that I've taken down to the studs and floor joists at this point. My question is should I continue? A couple of more points to make about the situation, I've had investors show an interest in buying the property (9acres) but they can't close until December if their deal goes through. I can really only afford to spend $30000 on the property and best case scenario I'm going to get about $800 a month out of the property. I bought the 9acres and house for about 40k, which was a great deal. It's in Fayetteville Ar. Thanks for the weigh in.