Family house deal or not?

[Matthew Strack]

Hello everyone, 

I'm currently in a situation i was hoping to get some helpful insight on. There is a house (2b x 1b) in the family I was interested in becoming the owner of. Zillow is saying the house is worth $90k but recently a tree went through the back end of it and I was hoping to get some information on possible ideas or suggestions on what I should do about the situation. Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it? I believe the ARV could possibly be $150k but i would need to put $80k+ into the property. Any suggestion, advice or insight would be greatly appreciated.

[Matthew Strack]

Quote from @Jaycee Greene:

Financially, I'd only do it if you could convert to a 3x1 AND get at least 50% higher rent.

I dont see getting 50% more. I see what you're saying about the 2% rule. 
I think the most I could possibly get monthly out of the property is 1000 based off of rentometer, zillow, and BP. I was looking to put 80k cash into then refi afterwards and possibly getting 130k. 130k on mortgage would be close to $800 only leaving $200 in cash flow each month.