Fourplex - Good first investment?

[Devon Young]

I have found a fourplex, I'm kind of using as a base to recognize a good deal.

The property is in a prime location, and looks very nice (only seen in pictures so far) and the asking price is $485,000. The seller is a licensed realtor and says the ROI will be 17%, my question is (and again this is in Canada) what are my options for down payments on this specific property. Time and time again I hear about people getting properties for low down payments or lend from places other than the bank. I don't know how to do this and I'm trying to understand it a bit better. Because this would be my first investment, I don't now if the bank would give me the amount needed for a mortgage.

In general does this sound like a good deal? I realize you are not in the same area and don't know the geography of the location but I guess what I'm saying is, given the ROI and price, and being my first investment property, would this be a good idea. Or is the idea to start much smaller and work up to something like this?