Personally I’d sell, if the capital gains after selling costs exceed $80k I’d consider a 1031.

So then basically you are buying the land for 400k, then demo (whatever that cost is) and the build new. 

Here’s what you can expect:100% Financing: We cover the entire cost of the deal, removing a significant barrier for many investors.Rehab Management: We manage the rehab process to ensure the work is done correctly and on time.Mentorship: You get access to mentorship from experienced investors, which can be a game-changer.My ExperienceI’ve seen firsthand the positive impact our program has on our partners.

I had a bad tenant that costed me thousands of dollars.

Investors that are looking to offset their investment costs can typically expect to cover the majority of operational and carrying costs, but those seeking positive strong cash flow and ROI can find limited cost saving inputs. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Here they are:-How can I estimate reno costs if I don't have a clue on prices and I don't bring in a contractor until after I buy the home? 

What would you do for the kitchen and how much would it cost?

If you only have 30k liquid total for downpayment, closing costs, etc., you might be cutting it way too close to really do anything. 15k is the bare minimum I suggest for reserves or oh no money on any project so that doesn't leave you a ton left to work with.As @Glenn Banks said, 203k is probably your best option because it's an FHA loan and you can do low money down and the reno is baked in, but the reno is complicated.