Possible first investment

[Taylor K.]

Hi guys, 

I am looking into buying this 3 bedroom single family home for my first investment. It is priced at 24k and is cosmetically very nice and ready to rent. But I called the realtor, and was talking to him and he told me that the house has "broken water pipes". I don't know if this is a deal breaker or not. The house would rent for 700 in my market. So my question is, do you think it is worth to replace the plumbing? And how much do you think that would cost?