Found a better deal while in escrow

[Cassandra Sheade]

New investor here! I am in escrow for a 4-unit In LA county. Still in the contingency phase, and I found a better deal in the same area for a building that’s nearly identical to the one I’m in escrow for. I was already getting cold feet about the current property, but now I’m feeling really anxious to get out and pursue the other property. The Inspection And Appraisal ARE Scheduled for thIs week. It’s my very first purchase ever and i could risk losing both opportunities, so I guess I am looking for moral support from the community. Is it a bad idea to back out of my current deal at this stage?