Philly HouseHack. Did Not Appraise. Help me Re-Negotiate deal

[Nick Schmid]

Currently under contract for $370k no seller assistance. Original Asking price was $356k. The property was last purchased for $310K in 2017 by the seller. 

I am seeking feedback & suggestions on how to best Re-negotiate this deal for the best outcome, being not over paying for a property & optimizing cash flow.

Currently one of the units is rented for $1550/mo. The home inspection did not reveal any huge surprises but I am estimating roughly $13,500 for repairs & updates.

The second report is my attempt at a counter offer. 

I realize this deal may not seem too exciting at first glance but if my calculations are correct I should be able to pay down enough in less than two years to get rid of my PMI & cashflow for $468/mo allowing me to utilize a second FHA loan keeping this as a hold investment. All feedback is welcomed, bring your best ideas.

Current Offer

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*This link comes directly from our calculators, based on information input by the member who posted.

My Renegotiation Offer Attempt

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*This link comes directly from our calculators, based on information input by the member who posted.