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To buy my grandmother's very big old house?

So some context. I grew up in this house until I was in my teens. My grandmother died in 2015, But while she was staying in a nursing home for about 5 years one of her children, my aunt, did a sneaky and moved in to her house under the guise that she would take care of it and she absolutely and utterly destroyed the house. Fast forward to present day. My other aunt who is extremely responsible and pretty much has domain over all of my grandmothers stuff finally kicked her out and had someone assess what I thought was how much it would cost to get the house up to livable standards. My aunt has told me she would sell the house very cheap to us kids if we want it. I don't know "How cheap". My mother said probably around $20,000. I have been told it needs at least $30,000-$40,000 in repairs just to get it livable and up to code. It was built in 1928. "Technically" its a 3bd, 2bath, but it's more complicated than that. I don't know the fancy term for it but it basically has its own apartment on the top. So it has 2 pretty big bedrooms on the top, A full size kitchen with a walk-in pantry, A little dinky bathroom that's never been remodeled. And a little bit of space next to the stairs to put maybe a tall bookshelf. The downstairs is pretty much the same except the bedroom is massive, And then there's a set of stairs that looks like they used to connect to the stairs that go to the 2nd floor, But it is blocked off. It has a full size basement And not a very big front yard at all. Backyard is about the same.

The information on zillow says $107,000-153,000. I will take that with a grain of salt considering values of houses right now. I would not let anybody buy this house for any amount of money in its current condition. It's very very bad and makes me very upset.

My question is, Do you all think this is a good investment whether living in it myself or renting it out? I do not like the neighborhood it is in anymore. It used to be worse with police needing to be called, but it's not as bad because new ownership took over an apartment complex that's nearby but not right next to the house.

submitted by /u/TheBvandersnatch
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source https://www.reddit.com/r/RealEstate/comments/13tzwml/to_buy_my_grandmothers_very_big_old_house/
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