Potential First Deal, Need Advice Please

[Nikki Jacob]

Here is the long story not quite as long: My grandmas house, which is paid off, could be for sale soon. The profits will be split between my grandmas 5 kids after 30K is paid to my uncle because he paid it off years ago when my grandparents hit some financial trouble. The house is in very bad disrepair. Mold in the basement, plumbing issues, electrical issues, even foundation issues, plus major cosmetic rehabbing needed. The ARV is, I'm guessing, about 150K. What would be a good offer, and is it even worth making an offer? My sister currently lives in the house (partly why it needs a major cosmetic overhaul) and she and her family would basically be homeless when the house sells as they cannot afford rent anywhere. I was thinking of buying it, fixing everything except the cosmetic stuff that will just get messed up again if I do, and renting it to my sister for just enough to cover the payments until she can afford to move out. Then I would sell it or rent it out again. I don't even know if she could afford the rent there if I bought it and fixed it up. Even though I would like to help everyone win, I really can't afford to lose money on this. Thoughts, opinions, advice? Thanks so much for reading!