New to this site Questions about MA-Massachusetts property

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I am looking to get into the market i already got a pre-approval for 500,000 no problem i have pretty good credit. I just dont know what to do. If i should look for a good rental, but a house in minor need of repair paint it add a garage then reappraise refinace, just kinda scared. I know that the worst thing you can do is wait but the market seems to be going down not to mention everyone in my family has bad luck when it comes to houses. My parent built a house with electric heat way back in the day and then when it was done electric heat went thru the roof so they took a lose on the house just to pay off the money they owe. Can some one refer me to a webpage or book i should read that would be great.