How to move forward with negotiation

[Angel Moreno]

Hi guys I’m currently negotiating for my first duplex in Chicago area. Duplex is up for sale for 155k. 2 bedrooms 1 bath each with unfinished basement. It was recently rehabbed with new roof, new kitchens, new bathrooms, new water heaters, and a new furnace for upstairs unit. Being conservative I estimate both units would rent for $800. I plan on buying coin operated laundry appliances for the basement so old how much more income that would bring.

I'm using FHA financing and sent in an offer for 135k plus 5k I'm closing costs. Buyer responder with 155k with 5k closing costs. He didn't drop the price at all. At 155k my mortgage including taxes and insurance would be $1340 leaving me only $260 cash flow before vacancy, repairs, capex, and property management (after I leave the duplex in a year). How would you guys continue forward?