20yr vacant property - rehab?

[Mary Chiles]

I currently own 4 rental properties and one of my tenants inherited a property through her husbands death over 15yrs ago. She didn’t even know she was the rightful owner until recently when she got called to court for code violations. We have discussed me buying this property from her- but it’s unlivable, needs a complete to the studs renovation or maybe even tear down. It’s under 1000sqft. Lots in the area go for 20-40k, and houses range from 80-150k. We have discussed me

Buying to for around 10k. It’s been vacant for over 20 years and had squatters at one point.

I have never done a complete rehab, or really kind of Renovation- would you buy and hold, tear down and hold, do a Rehab? Rent in the area would be $700-900.