Possible first deal?

[Kenneth Hadinoto]

Hi BP community.  I was looking at a property that is going for 200K.  My agent looked into it and told me that it needed a lot of major work. (roof, septic)  Rehab will be around 100K.  He told me I wasn't able to get a conventional loan, but might be able to go through another lender.  I would need to come up with 60-70K down.  Not sure if this is something I need to tackle as a new investor, or should I keep looking?  The comps in the area have sold between 380K - 420K.