To Buy or Not to Buy... That is the Question..

[Gabe Chase]

Hello, I am 19 years old and looking to close on my first deal! I am super excited, however this deal has seemed to go on forever! About 2 months since my initial message and offer. The house is $127,000, with about $3000 in closing costs and $4000 in wholesale fee. So I'm going to be paying $9000+ to close on this house. I have already paid about $1000 for everything to be inspected and looked over (Home inspection, Plumber to come out, HVAC to come out, and roofer). 

The house needs a new A/C unit, Furnace is old and water heater should be changed out for a tankless when I replace everything. This property will be used as a college rental, which is why the tankless water heater was recommended. 

The property is worth $130,000 appraised and will cost me $127,000 + closing costs +Inspection(s) Investment(s). It will rent for $1429 a month and yield about 35% CoC ROI after all expenses and management fees.

This double deed transfer has cause the whole process to slow down and has made me feel like I have wasted 2 months. Is it worth it to continue and go through with the purchase of this house? There is a house for $110,000 with 300 less square footage in better condition right down the road. Should I focus on buying a BRRRR and put my energy and money into finding a private lender or hard money lender, or should I go through with the purchase of this house?

Please leave me any advice or questions! I would love to hear everyone's thoughts and opinions on this. I thank you all. Happy Holidays and Stay Safe!