Should I invest in this property?

[Gilbert Lugo]

hello everyone, I'm bit confused about investing in a particular multiplex. Since I'm a first time buyer I'm leaning towards an FHA to take advantage of the down payment. I've found a multiplex that is in good shape and has a strong possibility of passing the inspection.

Now that that's out the way. My issue is that the sellers agent is almost refusing to sell to an FHA. He acts as the seller himself and at one point refused to present the offer to the seller. When he supposedly presented the off he immidiately said the seller denied the offer plain and simple no negotiation even though my offer was in ballpark of the asking price.

At this point he will only accept cash or conventional. I’ve ran the numbers several time with conventiona and the numbers still look good with a 14% cash on cash return. But the bummer is that it will drain my entire savings?

Thank you in advance for your thoughts and comments!

[Brian Zaug]

Julie Nearing nailed it. 

"obstacles that the home has which may make it impossible to go for FHA financing"..