You would be surprised at what a renovation team can do to a property. Because the foreclosure inventory is somewhat sparse right now, investors are going after anything that represents value. It is a math equation for both sides. If you want too much for the home, then there is no value in the home as an investment for another party. We are not yet at a point where people are tripping over themselves to buy properties.
Sounds like you first need a market evaluation of your home, and how it would comp out if fully renovated. Since I am partnered with a general contractor for my own flip investments, I would be able too give you a good idea on what it would take to sell and maximize your return. Feel free to give me a call to discuss further.
Broker Baird & Warner