advice
A year ago I purchased a property at an auction. I basically paid for the location because the "house" is uninhabitable and needs to be torn down. The location is right by a med school and renting in that area is strong. After I realized that the house was not salvagable, I planned on tearing it down and building even a manufactured home to rent. Since then, I have been going through a divorce and haven't done a thing to this property except to get rid of two sheds that were falling apart and cuttng down 3 dead trees. My finances are tied up til we sort this divorce out. My insurance company dropped the insurance as of 12/31/13 because it was based on improvements to the property. I paid $29,500 for the house. Taxes are $1000. If I demolish the house it will be $11,000. I'm afraid to put more money into this place but no one will purchase it with the crap building on it.
Any advice would be greatly appreciated.
thanks, Mariana