Flipping an Old Gutted Home

[Tyrek Brown]

Hi BP community!

I have an old home (SFH 3 bed 2 bath) near me that I have thought about doing a fix and hold. However, the property is very old (1887) and needs an immense amount of work. The home has also been sitting around quite a while, not sure if that is due to the amount of work or the numbers of the deal. Also, if I did pursue demoing the home and doing a new rebuild, does anyone know what that normally would cost?

I'm looking for other thoughts and opinions on pursuing this as a first investment property.