Deal analysis on property sold for only land value

[Jacky Johnson]

I have came across a property that is selling for about $300K and must be purchased with cash, and is sold for land value only. This entire property is two-story and has two units and a garage, and is considered to be a tear down. Lot size is around 6000 square foot and total square foot is about 1300. It's build near the 1950s with 2 beds and 2 baths. Utilities are on-site. The property type listed is vacant land. If I want to purchase this property as a investment property for renting and also for appreciation purposes. How do I know if this is a good deal? What do I need to do to make this property rentable? Thanks.