am I crazy for wanting to keep this property?

[Danny Harper Jr]

its a duplex. I own it outright. it may need about 60-70K worth of work over time.

the current value is "40K" according to realtors because its a fixer upper. but its livable! and functional. even (at times), comfortable! I live in one side and a (bad) tenant lived on the other side for about 6 years. (long story) but houses on my block are selling for about 120K right now if they're finished. my property is the biggest in my neighborhood for about 2 blocks, and I think if I can get it fixed up nicely, the equity can be at least 150. I have a nice backyard , a nice deck that wraps around, front yard, about 4000 sq ft. and its a corner house. my property looks across the street at 3 other houses and covers the same amount of space as them combined. 

I would like to rent it out. the rents would gross $2425 and pull in a profit of $1320 monthly if I can rent out both sides. am I crazy for wanting to keep this property?