Suggestions on this property

[Jeremy Collins]

I have a property in Rowan, Iowa. It is a 4br 2ba home. I have tried getting comps on this property and am still trying. My question is, how would you assess the deal. I can upload photos if that would help, The property is appraised at $12,000 and I'm offering to buy it for around $6-7 but it needs so much work. She says that the roof needs redone because it leaks, the bedrooms are not liveable, up until last Monday the upstairs plumbing didn't work, and the house itself just needs a total overhaul. My mentor here in Des Moines is saying I'm nuts for even wanting to do this deal, but I know that it could be a gorgeous house once it is done. Plus, I didn't mention that technically according to the assessors page she owns 2 houses next to each other her house and the one next door. Any suggestions would be greatly appreciated as this is my first deal and I don't want to mess this up. If you send me your email I can email you the photos of the properties that the appraiser took while he was at the property last week. Thanks in advance for any help.