Nice looking K, Richard!
And his experience raises several good points. First, find a deal you’re comfortable with. That way, no matter how things go, you won’t feel it’s a bad investment.
Second, be prepared to work on used brass. It’s not as scary as it seems. In terms of taking locos apart, they’re often as easy or easier than some new plastic locos. As others also mentioned, there are plenty of folks who can give advice and solutions out there for many of the most common problems.
Remotoring is common and DCC installs are pretty straightforward, too. It definitely helps to add wipers everywhere except leading and trailing trucks, but you can usually get away with doing both sides on the tender and just on the Left/black side on the loco (most brass picks up well from Right/red side, but sometimes wipers can help there, too.)
If you’re leery of used brass, then buy new, although it ain’t cheap. My Sunsets came that way, already painted. To me, that’s the toughest thing, painting brass steam. I’ve done rolling stock and diesels, but have let others handle decorating the steam. YMMV.
Find a dealer that offers a good return policy. Don’t expect used or even new stuff to be perfect, but it’s nice to know that you can back out if you find a show-stopper. On the other hand, some of the best deals are on that famous auction site and you often don’t get a return there, although that is changing. If it’s cheap enough, and looks like it’s in one piece, Richard’s experience is typical. Needs work, maybe, but you ended up with good raw material.
Good raw material is a good way to think of most older brass. Division Point has changed that and Blackstone is definitely putting pressures on importers to bring in brass that operates well out of the box. Just don’t expect most things you’ll likely to consider buying to be like the latest Atlas lo