Foundation issue/demo cost

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Hello! I am currently looking to purchase my first property that I am going to House hack. Today I looked at a property that has a major foundation issue. The house is on the market $299,900, The foundation is stone and collapsing inwards, it would need a full demo. My girlfriends father is a contractor who said it would cost anywhere from $250-$350 per square foot. It is currently a single family home, but I called the town's zoning and planning office and it's an approved two family zone so we could build a duplex. I obviously have never built a home (let a lone even purchase) and I'm curious if this is something that seems realistic to achieve. Is that an expensive price per square foot? Does anyone have experience with this? My goal is too at-least offset my living costs with my house hack and I will be splitting my monthly expenses with my girlfriend. Does this seem like something worth pursuing?