Are Condemned Houses Worth Contracting??

[Andrew Tudor]

We are just getting started wholesaling properties in the Cincinnati area and through direct mail we have come across a situation I could use some advice on. A property in a low income part of town has been vacant for the last 5 years. The owner owes the City of Cincinnati fines for the vacant property and backed taxes. We have offered the owner a thousand dollars plus clearing up the fines and taxes for the property. We are expecting to negotiate with the city for fees and don't expect to pay more than 4k total for the property.

The question is with it being called a condemned house with possibility of demolition in the future, is it still something worth pursuing? Has anyone dealt with those and have any advice for the situation?