Inherited House: Renovate, Sell, or Wholesale?

[Ryan K.]

Our close family friends inherited the father's house, but it needs significant renovations. They are unsure of the scope and cost of the repairs. They would like to keep the property, but we're uncertain if it's financially feasible or the best course of action. What are their options? Should they consider selling as-is, finding a wholesaler, or pursuing renovations? What are the potential pitfalls and benefits of each approach? What is a good first step? Thank you!