Seller said they got multiple offers, and I must admit house has a good visual appeal, but it doesn't come close to the expense of repairs.

Google satellite maps are helpful in visualizing how close subject is to risk but does not show which direction the flow will go.

I figured visually seeing the distress would be very helpful.

@Mike Dymski but cap rate is dynamic, and if interest rate increases so will cap rate and the so called Value add diminishes.

I know this is difficult to visualize without seeing the house. 

Then they're out of the picture and you can make mistakes on your own dime/time and not affect the family dynamic.

People that don't live here in these hills like we do can't fully understand the dynamics of us TN Hillbillies. 

I can't really get a clear visual whether it will be profitable or not since taxes are such a huge part of the equation.

We lost his money on one, and while it didn't hurt the family dynamic, my wife and I hear about it from time to time (the latest being that he is still burning through his losses on his taxes, since he doesn't have enough passive income/gains to use the whole loss yet).Stories I have heard: there are families that have been completely decimated by going into business together, and there are families that have run successful multi-generational businesses. 

Even if you don't do anything, the property might pass to the daughter eventually but might have to go through probate (or not might pass to the daughter depending on family dynamics).