What should I do to get rid of my fixer upper?

[Josh Rogers]

I bought a multifamily home in Chicago about 6 months ago, and I originally planned to flip it/wholesale it for a small profit. However, all I can seem to get are insultingly low offers since the home needs work (It's almost a gut rehab). I have been trying to market this property on and of for the last 6 months, but now its starting to become a burden as I have to pay on a delinquent water bill that was the result of a busted pipe leak in the basement right before we closed on it, and additionally I have to pay the remainder of the taxes. I am honestly at a stand still as to what to do to at least make my money back. Recently a few friends have suggested that I invest some money into the basics such as new plumbing and some cosmetic work so that I can at least market it for a higher price, however, I am hesitant to do this as I am not sure if anyone will buy once the updates are completed. What would you all do?