As long it doesn't have foundation issues and I can pick it up for a decent price I can add value to get it up to that 110-125 per sq ft price range...automatic equity. 

Purchase price: $55,000 Cash invested: $10,000 Completely updated from the foundation to the roof!

The foundation below the piers is concrete.

We demolished all but a few feet of the home and left a portion of the existing foundation, then designed and built a new 2,504 SF modern home with an attached 2 car garage.

QB's guidance, marching through the process of getting each and every permit for the work . . . after the fact.Well in excess of $10k later (holding costs and righting wrongs of Smiling Snake that the city inspectors found), we had gained all permits and the Certificate of Occupancy.Two days before closing the buyers agent decided that they should have the foundation inspected (hmm . . . isn't this what the inspection period is for?)

Foundation, plumbing, electric, HVAC, reconfiguring the floor plan, etc.

We repaired the foundation, added sump pump, ventilation fan and dehumidification system to crawlspace.

As I said, the house needs a lot of work. 1978 build with all original interior, floors were torn up, some foundation issues, pool needs replastering and the enclosed patio needs to be torn down. 

carpet 3 renters if your lucky, laminate can be ruined with a sponge mop, vinyl plank , (snap together) has made it three renters and still looking good, ceramic tile on concrete foundations lasted for years, but a cast iron skillet will break one.warranty, yeah right, suck it up , and get ready to buy more product.

On one of many Brandon Turner's podcast he talked about  the real estate investment  foundation triangle.