Achillesaus,
I see no reason to get involved with this one and I'll explain my view in a bit.
What are the comps?
What sort of deferred maintenance is there?
How are the utilities handled?
Who's going to manage?
etc., etc. - way too many unanswered questions for a fourplex
Okay, so we put 18k plus costs down, say approximately a total of 25k. We've got a loan of 162k that runs us about $1,500 per month on a 15 year note.
Your tax number is low and will likely be at least $4,500 (probably closer to $5,000) so that's another $375.
Your insurance number is low and will likely be at least 50% higher than that, especially if you carry general liability, which you should on a fourplex. For grins, let's say the insurance is only $150 per month.
Therefore, here's my breakdown:
1500 PI
375 Ins
150 Tax
For a grand total of $2,025 PITI. So, if we completely ignored vacancies, credit loss (non-payment), repairs, marketing, management, etc., there might be perhaps a 18% maximum cash on cash return. That's not worth it.
Now, let's factor in at least 25% for expenses and you're over $2,500 per month. It's upside down. I'm a bit conservative, but I think a fourplex should carry itself on a pure rent to payment basis with a 50% vacancy. Granted, those aren't that easy to find, but I think it's a decent target.
I had a fourplex a couple of years ago and happily sold it to someone for about the same numbers. My payment was considerably less than $1,500 per month and I didn't want it.
Anyway, that's just my view, but my recommendation would be to keep looking. With patience, knowledge, and the right perspective you can do much better if you're willing to shell out 25k in cash.
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