Am I crazy even considering this??

[Adam McCarty]

Ok so there is a forclosure in my area that has been to auction 4 times and hasn't sold.  It is in the top 1% of house values in the area however. It has a lot of problems including bad mold through out the basement. I have yet to be in the property but if I can get it for the right price am I crazy to take on this kind of project. I could see it taking over a year in the market just because of the price of the house and also a large reno but the profit potential could be 200-300k. I have already done a reno with a lot of the same problems but just not on this scale. I also know I still have a lot of due diligence to do but just want to get your feedback before I spend a ton of time on it