@Fabrice Eliacin I analyze deals I see on loopnet and make offers even though I don't think I'll get it.

Wow, thanks for that really opened my eyes as to how crucial all the numbers need to be in analyzing the properties.

I have ran numbers on multi family & know the pockets of the popular areas that are what I would consider C+ areas.

Once you understand this, the type of property / location will naturally fall-out.At that point, the only thing left to do is make sure you are analyzing the deal properly. 

Again Sub TOO BAD BAD for seller if the seller cares at all about their credit and or  any equity they may have if they did a wrap.I know its popular on this site to promulgate this method of buying problem is too many financial sociopaths or wanna bee investors to down right crooks for a seller to take this RISK which you are now learning first hand

Lots of headaches and no education about how to do it the right way, by knowing how make money when you buy through analyzing the market trend, sub-markets, comps, etc.

What types of questions should I be thinking of here as I analyze this deal to try to learn more about the process of buying a 4plex.

I really like seller financing and value play apartments (big ones, not the little ones popular on BP), but like any other strategy, you have to know what you're doing.

@Norman Campbell Russel is right, but there are still deals listed on the MRIS, I analyze them daily.

While you are analyzing 4-Plexes in the Springs, I would raise your utilities calculation to $300-400 to be conservative.