Inheritance property dilemma

[Chocolatericecakes]

I have jointly inherited a very cheap and rundown property with someone with whom I have no friendly relationship . Should I sell it and split the cash?
Or, should I give them half the current value of the property and invest in it myself to get it to rental standard, to generate an income?
I would need to cash in a pension to do this so would be looking to get a good return from the investment.
Another consideration is that I currently have debts which the immediate cash from the property sale could help to clear.
So would you take short term gain, or longer term investment potential?
Has anyone had a similar experience?

I'd sell - work is costing a lot right now and there's no guarantee with rental income. Definitely wouldn't cash in a pension for it.

christ I would sell in a heartbeat

if you want a rental property, choose to buy one with needing work or not

Unless you are a pro or semi-pro renovator and flipper I'd sell.

Agree sell . We faced a similar dilemma and glad we chose to sell (or will be if the sale ever goes through) . Also change in legislation particularly EPC means there are more and more legal requirements for landlords

Sell

Thanks all for your speedy advice. It has taken a year to get to the point where I can actually make this decision and selling is what I had always planned to do until I got this mad rental idea. I will go ahead and sell.

I’d sell too. Don’t forget the cost of not having to deal with the other person.

Absolutely sell.

Maybe put the proceeds towards a (decent condition) buy to let but personally I'd stick it in my pension.

Clear your debts! Unless the interest on your debts is very low, financially it makes more sense to clear down these as high interest loans is just money out the door and unless you are going to make a packet on the rental it's probably not worth it