Help me analyze this deal 2 bed 1 bath on an acre septic and well

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I would do it to hold, After repair only 47,000 but it would make a great rental.  I believe another 15,000 and it almost doubles in value.  I know the numbers don't look good upfront but I think the possibilities are great in time once I chisel away at 15,000 in upgrades/repairs.  This lot has another service for all utilities it just needs to be cleaned up....