Does this look okay for my first rehab?

[Ryan White]

Its listed for $29k but going to offer 10k.

it needs a complete rebuild, floors are gone, including the joists all rot under the walls, termites damage up the wall framing on one end that i can see, roof as well needs replaced. 

the flooring is the main thing im worried about, like do you have to take down the whole frame of the house to replace all the joists?

[Scott E.]

This is gnarly for your first rehab! But everything can be addressed. All it takes is money, and the right contractor.

If you have a general contractor that you trust and that has experience with rebuilding homes in this condition, you'll be fine to take this project on.

By the looks of things you may need to knock the house down and rebuild from scratch. But that's fine. Again all it takes is money. I'd underwrite the deal based on a complete rebuild and make sure the numbers pencil out.

Don't plan to sub the work out yourself. You need a general contractor to oversee the rebuild for you from start to finish.