How big of a renovation is involved here? People renovate and remain, all the time!!

Well, in a way, if it needs that much work, perhaps, looking to relocate, will be in your better interest, in the long run, than buying a piece of property that needs that much work!!

If it's just for increase in value, think of the taxes saved on that property value, long term!! And if it's just for increase in value, can't you stay while it's being renovated?