Need advice on (would be) first purchase

[Diandra Duncan]

Pls help

I'm semi new to rei and have been looking high and low in this ugly market to get my hands on a good deal. A little background, I've been looking for close to year with my brother with an FHA and have had zero luck and I mean we've seen and put in offers for dozens of properties (primarily Bergen, essex, and union counties). We were looking for a 2 family with a finished basement, vacant. We would rent out the top fl and occupy the 1st and basement while doing little renovations here & there. We switched realtors and finally got an offer accepted in Teaneck, NJ (we would be moving with family btw) with conventional with 10% down on a mother daughter fully vacant at 650k and 10k above whatever the appraisal would be suggested by the realtor. We got the inspection done and there were a few concerns but nothing really major. My big oopsie was that I didn't see the property in person before we put in the offer due to being on location for work. Now, the property is in decent shape however, with the work we have to do on the home paired with the ‘high' offer we put in, I'm starting to feel like it's not worth it and I'm considering pulling out. I know it's not the best thing to do at a time like this but Idk why I'm having doubts. Considering what the market looks like now, can someone offer their honest opinion? Is this a bad deal?