Negotiating my first deal! Help!

[Juan Carlos Castillo]

So I've started my search for my first property and with the help of my family's realtor came across a duplex in an up and coming neighborhood (high rises are being built like crazy, it is within 5 minutes of Fort Lauderdale beach). One the west side its a 3/2 (rented at $1350) and an efficiency (rented at $750) on the east. It is definitely a bad neighborhood as it stands and the current tenants of the efficiency are without a doubt crackheads on section 8 housing, but like I said, it looks like the city has been putting money into the neighborhood and the developers are flocking as the downtown area expands.

The buyer listed the property for $235k, I originally offered $220k and we came to an understanding at $230k. However after my home inspection today and speaking to the tenants of the 3/2, the tenant mentioned that the owner had reached out to her to sell her the house at $200k just 3 months ago!

I told my realtor that this is bothering me and he says we could send an offer for $220k based on the home inspection report, but would caution me to not ask for more than that. Is there a risk of the deal falling through if I ask for the $210k? Some of the repairs/upgrades suggested by the inspector are Central A/C (Currently window units), Upgrading the electrical breaker box & an in depth electrical inspection as there are some loose wires in the attic, pest/rodent control, and to fix a fence that is falling over.

Also, can anybody help me analyze this deal? The loan will cost me roughly $1700/mo (lender's estimate with taxes & insurance), and if I can keep the current tenants at the same rate, I will be able to rent it out for $2100, so at least it is cashflowing. I have no idea what these repairs are gonna cost, but I'm estimating central a/c will probably be within 5-10k and the electrical fixes will probably be around 2-3k.

Thanks in advanced, here are some links to pictures of the property.

[Scott Passman]

@Juan Carlos Castillo I would urge you to re-read your last sentence. Don't mortgage your future just because you are anxious to do a deal.  The whole point of investing is to make money and INCREASE your financial security.  Either keep waiting until you find a good deal, or start looking outside your market if it no longer makes sense to invest there.  Don't lock yourself into a bad deal just to buy something.