Would you buy an expensive property for infinite return?

[Austin Smith]

Ok here's my scenario, I have a developer who's looking to build a duplex in my area. 

He's willing to sell it to me and provide a commission percentage that would be slightly above the down payment, fha. 

Looking ay numbers I'd come out of pocket nothing and after living there for a year, I'd cash flow 5-600. (Accouting for vacancy, and repairs bit considering it's a new construction I'd don't think the roof will go out in a year).

My dilemma is that I feel the price is on the high side and I also realize I have an appraisal contingency. 

Easy house hack or slow ya role?