Bad deal already purchased what next

[Cullen Hall]

Someone I know recently bought a house to flip for their first time at an auction. Getting into the demo they quickly realized this was a way bigger job than anticipated. It’s a structural night mare (foundations and framing), needs new plumbing electrical hvac. You name it. It’s a bad deal for what they paid and it needs a lot of work to be done to fix it properly and put on market.

I am new to investing but I have construction experience, I want to help them but I want to know what would be the best strategy moving forward? Would you hire an inspector to go through and get a list of everything that’s wrong or what? What have you all done in this situation? Because I know that they aren’t the only ones who have done this.

Any advice is appreciated.

Thanks.