CGT on inherited property

I have recently inherited my father's house after he passed away in January this year with my 2 sisters. We have made the initial payment of IHT and can pay the remainder through his investments leaving us with his house which is in a poor state of repair and requires significant investment. The valuation for the house will be a year old in February could you please advise what are options are? I would like to retain the property and extend it with a view to renting it but my sisters are less interested and feel the cost to refurbish and tax payable on any rental income make it unworkable. If we pay for urgent repairs is this chargeable depending on the sale price? It seems as though there is little option but to sell.

Hi,
As you state the property is in poor state of repair, any improvements are likely to fall under capital and as such only allowable against any capital gain upon selling and not deductable if you rent it out. general maintenance like painting/caprets are allowable against rental income.
Thank you.