I've turned a few turds into diamonds. From the description and looks of that place. The best you'd get from that turd would be coal.
I've seen houses in worse condition go for over 100k around here in the Seattle area, in auctions. On the other side of the Cascades anywhere between 10k - 100k, depending on location. If someone can do drywall, fixing up a home like this is not that expensive. -- Wacky Races 2012!