Condo Purchase Question -- Am I getting in way over my head?

[Mark Mensah]

Hey all,

First time poster and home buyer here. I've recently gone into escrow on a 3 bedroom 2 bathroom condo that I'm hoping to rent out a room or two to help out with mortgage payments. My only issue here is that I have about 190k saved (mostly invested in the s&p 500). 52k of which is in retirement savings accounts and 13k of which is in an HSA, so in reality I really only have 125k to use as a down payment and closing costs, or 150k if I take out a loan against my 401k. 

That being said, I was hoping to put 20% down on a property with a purchase price a little under 700k. But after seeing the property, I think it will need some extensive repairs (new flooring, scraped popcorn ceiling, minor upgrades to bathrooms (new hardware, resurfaced tub, etc)). 

Would it be wise to potentially put 10% down and use that extra cash to account for any repairs that may need to be made?

What would be the best way to proceed?

Yours truly,

-Mark