not trusting a seller's figures
I was emailed some information about a property that I inquired about. It is a 4-unit, FSBO, in a rural area. The asking price is $175K. The seller provided a very well laid out spreadsheet purporting to be of his income and expenses for 2005, 2006 and 2007. The gross annual rents are $24K and his figures show a net income of about $19K. I'm extremely skeptical about his numbers as it seems to good to be true. His figures suggest there is a potential positive cash flow of hundreds of dollars a month, yet according to my back of the envelope calculation based on the various formulas I've learned, at those rents there would be potentially a negative cash flow of a couple hundred dollars a month based on 100% financing.
According to his numbers, this seems like a great deal. I just don't feel like I should trust them. Am I missing something? What should I do?