Haste and uncertainty breeds mistakes and regrets. Time is on your side. Let time work in your favour. A lot of people 'succeeded' during the boom even after committing serious mistakes in buying property simply because of the boom. In the current market you just have no option than to do your research and duedeligence thoroughly. I will hate to see a youngman like you get burnt on your first 'date' with property investment. As many others have alluded to…. more deals will come your way. Cancel the deal, educate yourself some more, do your research and then take the plunge.