First real investment

[Darell Holmes]

I am in the process of purchasing my first investment , my residence, I need feed back on this deal. The house is sitting on 3000 sq ft, was listed as a 3br- 1b, for $125,900, the comps is between $55,000 - $150,000 at a 7.5 interest rate. We plan on using 3.5% FHA loan with a 6% seller assets. The is an estate property with no property disclosure selling as is, my agent informed me we will be responsible for all upgrades, there's no GFCI in the home and railings to qualify for an FHA loan. I suggest a 10% off the purchase price without seller assist. My Leander and agent said that's not a good deal. The property has been relisted as 4br-2b is this common?, base off the knowledge I have learned at BP, I feel this is not a good deal, I am trying to analyze this to best of my knowledge but can't come up with a better proposal. Do anyone know what's the best way to attack this deal.