Seller counter-offered. Help Analyzing this BRRRR Deal!

[Alfonso Aramburo Zepeda]

Strategy: Buy & Hold, Live in for 2 years, remodel it while living in it, then move out.

I've been all excited since I "found a gem" but now after running number over and over and over again I break-even only if I manage it myself after moving out.

The property needs the following:
- Flooring - Currently it has a stinky-smudgy carpet

- Cabinets - Old, falling apart, discolored stain

- Countertops - Currently it has laminate jagged up counters

- Outside-Inside Paint - Stucco needs to be painted on the outside. Inside is dirty, discolored walls.

- Bathrooms - Super dirty bathtub, toilets.

Single Family Home Purchase Price: $355,000 

FHA: 3.5%

Mortgage: $2200

Rent: $2400

Comps Avg: $370,000-$440,000

Rehab Cost: $20,000

Is it a good Deal or Bad deal? 

Before moving ahead and accept the counteroffer I wanted to be sure that I'm getting myself into something that its worth it. 

This would be my 1st BRRRR, so I'm a bit nervous before jumping in.