Duplex Purchase . . . should we or shouldn't we?

[Brian Ingle]

We're finally empty nesters! My wife and I want to build a portfolio of rentals to supplement our retirement. Our plan is to house hack a duplex for 1-2 years and move onto the next one.

We're looking at one right now that we'd be able to potentially buy for $320K with 15% down but after using the BP rental calculator I'm seeing a negative monthly cash flow of -$661.57??? 

- Average Rent is $1500/month in this area 
- The home has 2800 sq ft (1400 sq ft - 2BR/2BA per side) Rambler with 1 tuckunder garage per side and a separate 3 car garage
- Taxes are $4870/year
- The $42.5K in repairs are for a roof, siding, electrical conversion to breakers, and adding a bathroom in the basement of one side (none of these repairs are dire needs but will need to be done in the next few years) 

Any advice will be greatly appreciated!

Here's part of the RPR report if it's helpful.

[Ralph Poirier]

Math doesn’t lie!  No matter what someone tells you 2+2 will always equal 4. Don’t fall in love with a property until you ink a deal. Drop the price so the numbers work. Explain why you dropped the price. If they accept your off to the races. If they don’t your off to the next deal.