I've often had young buyers who tell me they want to buy a "fixer upper". It sounds great because you can usually get a house for a much better price. I like to caution people on this and just make sure they give it serious thought.
Can you do the work yourself. If you have to hire someone to do it, it will be expensive.
If you're working at a full time job, do you have the time to put into repairs, especially if they are extensive repairs.
Can you live in this house while you're fixing it. If not, you will be paying for 2 houses while you're getting the work done.
These are just a few things to keep in mind when you look at houses that require a lot of work.