You need to get a copy of the SD the previous owner signed and acknowledged.

What are other similar 4-plex units selling for (sold comps) and I personally would be offering less to test the water.

I actually bought my primary residence in L.A back in 2010 on realtybid and got a good deal on it..but have since sold it.. but that was when the market was totally different than today of course. 

Cash on Cash Return - 10.19%Thanks in advance for your thoughts - RobertReturn (IRR):11.73% per yearTotal Profit when Sold:$217,855.15Cash on Cash Return:660.17%Capitalization Rate:7.69%Total Rental Income:$471,420.00Total Mortgage Payments:$245,284.85Total Expenses:$125,280.00Total Net Operating Income:$346,140.00 First Year Income and ExpenseMonthlyAnnualIncome:$1,350.00$16,200.00Mortgage Pay:$681.35$8,176.16Vacancy (3%):$40.50$486.00Property Tax:$102.17$1,226.00Total Insurance:$62.50$750.00HOA Fee:$166.67$2,000.00Maintenance Cost:$16.67$200.00Cash Flow:$280.15$3,361.84Net Operating Income (NOI):$961.50$11,538.00

I pulled comps for the area 2 homes sold within the last 4 months.

This is how many turnkey properties are sold (aside from hucksters in NJ), and is the main reason why those properties don't appraise for selling price.  

That means that there aren't any comps and the only sold duplexes are fixer-uppers, before they get rented. 

Since you live in Milpitas, with regards to your Prop 13 tax basis, if you are 55 years of age or older, check with the Santa Clara County Tax Assessor.https://www.sccassessor.org/index.php/forms-and-publications/forms/60-ah-transfer-your-assessed-value-prop-60-90When I sold my long-time San Jose home three years ago, I considered my tax basis transfer options if I remained in California, but decided to retire to a state with a lower cost of living and no state income tax.

One of my previous homes was used as a rental property for a short period of time and then sold.

A pending home has for the most part already been sold (you didn't see it fast enough).