Deal or no Deal? Need some advice

[Justin Pilotte]

Property Details:

currently a duplex, potential triplex conversion.

Asking 289k

Realtor says I can get it for 275k

Mortgage of 1238$ (5% down)

expenses of 1244$ if a duplex 1309$ if a triplex

Income 2600 if duplex 3100 if triplex.

Cash flow 50$ total if duplex, 550$ total if triplex

The city supports me turning into a triplex there is not need to change the structure of the home there is room in  it. 

This will be my first investment property, I will owner occupy. These numbers reflect once I fill it and dont live there anymore.

My dilemma is the numbers arent the greatest if I get denied to make my third suit, just to apply cost 5300$. If it's only a duplex, I will have a hard time getting my second property. I want to start investing 1-2  properties a year not every 5 years.

thanks in advance 

Justin Pilotte