Cheap property with broken house vs vacant land

[Jenna Walker]

If everything else would be similar situation,

Listing price values building pretty much nothing,

Would you rather invested in the property with this broken house needs full gut or maybe tear down vs the vacant land. I am asking cuz, even if the house needs tons of work, still have permit, water, septic system, electric is in place. Wonder that adds more value for me to consider than Vacant lot.

Thank you for your insights!