To buy or not to buy?

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Live in South King County, WA. As we know, the market here is hot. Homes listed usually are pending within a couple days. I received a settlement recently, and would like to start dabbling in real estate. We live in a neighborhood, and a few months ago an elderly lady passed away in her home. Home has been in probate, and realtor is getting ready to list home for sale. The owner of the home was a hoarder, and realtor is bringing in dumpsters shortly to clean out garbage and then home will be listed for sale, AS-IS. Given how hot the market is, would this even be considered a good investment? Will I pay too much for a home that needs too much work? So many questions?