Opinion about a deal?

[Corie Carpentier]

So I have a deal under contract right now. Im currently in the option period(inspection is today). We have looked at and made offers on several on and off market deals. Most of the houses for sale right now need work or updating. The other houses available would cost us about as much if not more to buy and rehab to be able to get the rent we want. This one could use some love but nothing major.

The house that we have under contract is in a great neighborhood that we are very familiar with. We have watched the value of houses in this neighborhood climb like crazy over the years. The tax assessed value has gone up about 10k$ every year consistently.

This house was built in 2013, vinyl plank floors, granite countertops, pex plumbing, 1450sqft plus garage and fenced in back yard.

We got it for $220000, which is high for our market, but less than asking. PITI with 20% down at 4.325% interest would be about $1290 and we would rent for 1600/month. We have renters ready to go after we close.

We have about $70k in the bank at the moment, but Im struggling with wanting to put down $50k in down payment and closing for this house for $300/mo cashflow. I feel like it would limit me from being able to buy the next deal, or find one that we could brrrr, or something.

Am I being dumb for struggling with wanting to commit to this deal??

How can I negotiate a better price after the fact??

Any thoughts, suggestions that might be helpful?