The aerodynamics of airfoils has been extensively studied at high Reynolds numbers, where approximations of variables such as drag, and lift can easily be obtained based on computational fluid dynamics or panel methods. Advancement in aeronautical technology, in this case, Micro Air Vehicles (MAVs), the aerodynamics have not been studied extensively through simulations. Physical experiments have been performed, and they have not been emulated in simulation software, one of them being XFOIL. The purpose of this paper is to establish the potential and the gaps within XFOIL. Where can XFOIL provide correct solutions to drag and lift coefficients, and where does it fail? In this problem, we establish a parametric study to vary the Reynolds Number, type of airfoil, Mach Number, and angle of attack. We determine to what extent XFOIL can be used for the NACA-6409, NACA-0021, and NACA-0009 airfoil types at low Reynolds numbers.