$26k house flip (hardwood floors, roof, foundation, windows)

[Aspiring Flipper]

First of all, I am new to real estate and home construction but I am capable and resourceful and want to do most or all of the work myself. I recognize that I will need an extra pair of hands for certain things but I know a lot of people here locally that I can rely on.

I bought a house in Hartsville SC for $26k. It's a 2/1 built in 1959 and has an addition on the side that was done on the cheap. A lot of the interior has already been removed as part of a prior renovation that was abandoned for whatever reason. The kitchen and bathroom have been torn down to the drywall and there are no fixtures anywhere except for a generic looking bathtub. I do not see any water damage anywhere and the floors all feel solid. The roof line is also nice and straight so I think the house is solid overall. The walls are in rough shape overall and have been torn out in some places to access plumbing fittings. The original house is only about 650 sq ft but the addition adds another ~500. The original house is on a crawlspace and the addition is on a slab and doesn't have heat or AC. The addition features cinder block walls, painted concrete floors and the cheapest, ugliest windows available. The house has hardwood floors showing in two rooms and presumably they are under the rest of the house as well but they are hidden under some flooring that has to come out anyway. There's also a chimney in the middle of the house that was probably used for a wood burning stove that I would like to remove completely.

The good news is that it has a 3 year old heat pump, new electric service, and a roof that appears to be less than 5 years old. And the neighborhood is nice. Based on the recent sale prices of comparable homes in the area I feel like I can get $150k for it if I do what I want to it, which includes tearing it down to the studs, extending the foundation under the current addition and rebuilding it and raising the roof line to match the original house, and re-configuring it to a 3/2 with a private master bath. I have a rough floor plan that I've worked on but I definitely want to get an architect involved.

I feel kind of committed to the addition plan because of how small the house will be without it. I understand that it will drastically raise the cost but I don't really see how I can skip it either. Obviously new plumbing and electric is part of the plan.

I've also thought about just knocking the house down and starting over. The purchase price is pretty close to the value of the lot or maybe a few thousand more. The house is a rectangle about 52' long by 22' deep. The addition adds about 22' to the length.

Maybe I'll break even or make $10k on it... but it will be a huge learning experience for me and I'm OK with that. I do not want to be a corporate slave any longer and I'm determined to make a living through rehabbing real estate.