Hi @Perry Mcintyre In addition to that you have to hire a contractor for siding and interior to full update, so you’re looking for almost 100K in repairs. On this scenario, you will be paying almost the market value of the house. I’d also suggest a short sale.
I don't see much of a deal here unless you can do a short sale- ie. get the bank to accept less than is owed. I would pass.
What is the home worth in it's current condition?