Perhaps you could have a real estate agent appraise it and give you an idea of what to expect if you sold it in its current condition and what you could get if you found a way to make the repairs.

You will likely also be dealing with tenants who will call you for every little thing rather than an A/B tenant who has no problem doing minor repairs themselves, because for them it's more of a home rather than a rental.

Pros for cash buying:• You can often get the property cheaper because you can close quicker than someone attempting to buy with traditional fundings• You can do a cash out re-fi if you fix the property up and get it rented so that you can leverage that money on a new dealCons:• Your repair costs may be more than anticipated • Your money is now locked up in a deal and you may lose money if the deal goes south• Doing a cash out re-fi may take a while to get doneCash buying is a great way to employ the BRRR (Buy, repair, rent, refinance) strategy that is often talked about here on BP.

However, like the person listening at the gym in @Joe Splitrock's story, most people I talk to are definitely not interested in applying this technique to their own life. 

Even if you house hack and do a FHA loan, $20k will cover the 3.5% down, closing costs, and any other expenses or repairs that pop up in the first few years.

You make your money when you buy, etc.If I were to buy a 3 br 2 bth single family in a desirable neighborhood, no repairs needed, traditional financing with a 30yr fixed rate mortgage, would i be making a bad investment if I purchased the property through a realtor?

You make your money when you buy, etc.If I were to buy a 3 br 2 bth single family in a desirable neighborhood, no repairs needed, traditional financing with a 30yr fixed rate mortgage, would i be making a bad investment if I purchased the property through a realtor?

I prefer SFH in dire need of repair and updating, but in a good neighborhood.

That takes care of the mortgage and taxes, but does not take care of my initial investment of $23,000 and the other expenses I have outlined above in addition to maintenance and repairs that might come up. 

So, any repairs needed any future deals, could work with one of them2) My parents have some investing experience; brought up the possibility of partnering.Any thoughts on either or both of these situations?