You've decided that you would be fine with purchasing a fixer upper for you and your family to move into as long as the work isn't going to be too much for you to handle time wise, money wise and work wise. When this is the case, there are some things that you are going to need to consider in order to make sure that you aren't getting in over your head. Here are some things you want to make sure of when you are looking at a prospective fixer upper home:
Will you be able to live in the home while you are fixing it up?
Since your main concern will be housing the family, even while you are fixing the place up, you want to make sure it is going to be both safe and comfortable regardless of the fact that it does need some work. For example, if the house needs a new roof and the one it has is currently at risk of causing the entire ceiling to collapse, then this won't work. You would be in danger living in the house while the roof is being worked on. Also, if there is mold that needs to be removed, then living in the house while its being done won't be possible due to health concerns. However, if the flooring needs to be replaced and the place needs a new paint job, then these are things that can be done while you are living inside of the house.
Is there a place for you to store your items you may need to keep put away?
If certain rooms are going to need to be repaired before you can really use them, then does the house have enough storage, or spare room, for you to keep the items that would normally go in those rooms? For example, if you are moving into a small house that only has a carport and the living room and at least some of the bedrooms need to have a lot of work done, then where will you put your stuff? If you are willing to rent a storage unit while the work is being done, then this may be an option. Otherwise, choosing that house may not be feasible when you are going to need to live in it while the work is being completed. You may be able to purchase a storage shed and have it put in the backyard if this is something you feel works for you.