BRRR property- My first property but is it too much for me?

[Bijan Gavahi]

I looked at a property yesterday that had a basement apartment with potential to be a Mother In Law Suite, a kitchen area or kitchenette would need to be installed. I looked at it yesterday and it was definitely a fixer upper. It had holes in the walls, all the banisters were ripped out, sliding glass door for the backyard needs to be replaced, needs new tiling in the kitchen, needs new toilets and sinks, all the cabinets in the kitchen and bathrooms need to be replaced, and needs new carpet and paint. And the only way to access the mother in law suite is through the house or the through the backyard which has no entrance other than through the house (it's a town house so I can't walk around the house to the entrance since all the houses are connected).

From what I can see, the house has good bones and foundation so it has a lot of potential. This would be would be my first endeavor at house hacking and BRRRR so i knew it would be hard work but I don't know how much I should try to take on for my first property. My real estate agent just messaged me telling my they are willing to drop the price from $250k to $235k and throw in new paint and carpet if I take it.

The area is okay, I would say it is like in the middle of a B level and C level neighborhood, but it is not in high demand so finding tenants might be an issue. My main question is...do you think it would be a good investment? I would want to live in the basement to house hack it, but with all the repairs I would have to do and all the unknown issues as well, do you think I could realistically see a return on my investment?