Could use some advice! Pittsburgh

[Kerry Castleberry]

Hey BP! 

I've been trying to think of different ways to go about this, but maybe you all can help narrow down my options. My grandparents have a property they own free and clear and taxes have always been paid in the Lincoln-Lemington area (not the most desirable area) that has just been sitting for about three years. They don't plan on renovating, renting, moving back in, selling, etc. The property needs a lot of work I would estimate anywhere between $40-55k and I believe even structural work (kitchen has a nice slant to the left) so possibly more. So my question here is what could some of my options be to take over this property from them? They're open to selling it to me, but I'm not sure if the amount of work needed for this area would be smart to do. Would you reno and rent?? wholesale it?? buy and hold??     

Your insight would be greatly appreciated!