Negative Cash Flow on MFH

[Matt Messer]

I am looking at a fourplex, that is listed at 117,000, Just based on Realtor's numbers and condition I would be looking to get the property around 105,000. Realtor said it would gross $19,479 yearly. I requested Schedule E's for the last three years and in 2011 and 2012 the owner took a $4156 loss and in 2012 $3975 loss. Gross income was 15,791 one year and 17,068 another. I am just trying to process that information, however to me it looks like this property is a huge money pit and I should stay away. Am I analyzing this right? Thanks for any help.