Should I rent out a fixer upper ?

[Edna Rajan]

We own a small 2 br 1 br home in a very small town in MS . It needs a bit of work. A person came by and was interested in renting it out and was willing to put some work in it. I'm not sure if I can secure insurance for this house with the condition it is in. 

This would be my first time being a landlord and I will run a background check. Looking for advice on if I should consider this and what risks come with this .