Help with 1st deal!!

[Frank McGovern]

I am about to get my 1st property under contract. The seller wants $17k. Needs $5k in repairs. A house on the block sold in Dec. (same attributes as the house Im getting under contract) sold for $60k. There are houses on the market within a block radius of my house going from $55k to $70k. I was gonna offer it for $25. I think its a win-win-win situation. What do you guys think?