List it, or flip it? My Father's House!

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This is my first post!! I'm trying to help my father determine if he should remodel is home. He is approaching retirement and is trying to sell to move closer to his grand kid. However, the home is in bad condition.

Foundation has dropped 2 inches in certain parts of the house. The Garage has dropped 7 inches

Needs a new roof: going to try to pursue insurance claim because of hail back in May. 

Full gut and remodel. 

Currently he owes about $70K on the loan. 

    Square Footage: 1734 / Year Built: 1976

    House needs a full update. Never been remodeled. Needs roof, siding, major foundation work because its on yazoo clay. Currently getting quotes from foundation contractors. 

    Should he list it as is? 

    Or should he put the money back into it to fix it up and potentially make money instead of taking a loss. 

    Houses are currently selling for 160k in the area. Address: 103 Garden View Dr. Brandon, MS. 39047 

    School district is solid and the neighborhood has access to the Ross Barnett Reservoir. 

    Any advice on this topic is greatly appreciated! I look forward to what the Bigger Pockets community has to say.