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Anyone have experience renovating absolute run down homes?

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Frankly speaking, I consider that when you buy a house, first of all, you must buy a place where is a really good neighborhood, transport interchange, far from the road and crowd, preferably in a park area and with a good view from the window. You must think about your security and health.
IF you are going to live there... and IF you have the resources to live in that neighborhood... IF you plan to stay there for a while...

As a RE investor, I have bought tons of houses in bad neighborhoods. I cut my RE teeth on that class of properties. Now I would look for the kind of things you're talking about. But, I am years from where I started. If had not taken that path, I wouldn't be where I am. Those houses were stepping stones in my journey toward a better life.
 
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