Trying to get started - having some issues and questions

[Gil Pang]

Hi BP Community

I am started out in my buy and hold strategy. Put in my first offer, it got accepted.  But after home inspection, repairs were way more than i had expected.  So i asked for seller to pay for half the repairs.  They refused and only said they'd pay 2k out of 20K.  So that deal is dead now and i'm going to move on and look at other places.  Given that the repairs were so much more than expected, it really killed the #s for me and the initial outlay of cash versus my rental return didn't make it worthwhile anymore.

I am rethinking my approach where i may need to look for houses that are slightly more expensive with little to no repair needed so i can at least start cash flowing.  Given that no immediate big ticket item repairs are need within the next 7-10years, i can collect rent..pay myself a decent amount and slow set aside cash for the big ticket repair 7-10 years later.  

What do you guys think?  probably a better approach right?  

Thanks in advance.