See this thread. It should answer your questions at least to some degree, especially the last few post in the thread about current owners running KODI on the device. Being a newbie (everyone was once), once you understand that configuring and dealing with bugs/issues especially on older hardware and less than optimal software is the norm, then you should be fine. Personally, rather save up more and buy a more recent device with better specs and compatibility with the latest KODI versions, cuz KODI upgrades don't wait for no one (especially hardware acceleration & decoding)...