BRRRR Advise

[Andrew Valdez]

1700sq ft. Duplex. It rents out for 850$ ea side = $1700 Gross ~~~~CAsh Flo of $588 p/month

This is my first investment property. I'm 21 and super excited but extremely nervous!!

I have it under contract for $150k + Closing Cost($5-7k)[not big fan of the closing cost] so far I have no hard money invested.

During our due diligence we found a lot of moisture damage to the flooring due some leaky sinks and water heater and I personally think neglected maintenance. We just got quoted for $5k for repairs.

but the buyer wants me to go half on the repairs ($2.5k) so my loan now totals 159.5k(pending) but the buyer also said last time he refinanced it got appraised for $170k. 

In my reading I feel like I'm not going to have any equity to start the snowball effect. 

Is my logic correct? Any suggestions? Comments?

Correct me if needed and Ask if you {want/need} more information

Thank You