Just Purchased my first house to Flip... No idea where to start?

[Mark Johanson]

I just purchased a property site unseen (no inspection) for a little more than $30,000. I did this because the property was the cheapest property every listed in a town of 70,000+ in over 3 years. The land value alone is worth what I paid.

Anyways, this is my first "official" flip. I rehabbed the last house I lived in from the studs up, but I was living in that house and worked on it at my leisure over 3+ years. I purchased it for $65K and sold it for $180K. BUT This house is much worse and I cant fix it over 3 years. 

The same person owned the house for 50+ years and was a hoarder - fortunately all of the junk in the house was removed.

The good:

1) Exterior is in surprisingly good shape (New Roof, new windows, newer siding,etc..) I will probably only need to spend $2,000 or so outside.
2) Newer Electrical Panel
3) Newer Hot Water Tank
4) New tile around bathroom tub

The Bad:

Almost everything about the interior. Kitchen is a disaster, bathroom is a gut job, drywall throughout the house is crumbling etc.. The two main problems which have be worried are:
1) It appears the floor where the rmechanicals are housed is crumbling , and that whole room will need a new floor subfloor etc..
2) A part of the floor on the second story appears to be sagging and will need to be fixed. 


I guess my main question(s) are where do I begin? Which step should be first? Fortunately, I have a full time job which can pay my bills, so I can work on the flip at a slower pace. Should I rent a dumpster throw away all garbage rip out all the old floors rip off all the bad drywall ? Then what? Work on floors next, work on new drywall? Call in an electrician? 

How do I fix a sagging floor? How do I fix a floor thats crumbling?