Direct mail questions

[Jessamyn Smith]

I analyze small multifamily homes (my preferred property type) that are listed for sale and that I receive from a realtor.  The few that cash flow acceptably are usually already contingent and get snatched up immediately.  So I'm looking into direct mail.  I started finding properties that are not for sale, and I want to mail the owners, but my question is this:  is it more efficient to analyze each one and then mail out; or mail, and then in the few cases where I receive a reply, analyze and find a deal with it that cash flows?  I'm leaning toward the latter but then you're out more mailing costs even for properties that might be highly unlikely to cash flow regardless of how you structure the deal.

Then, ANOTHER question:  I understand one benefit of this method is avoiding realtor costs.  But say I wanted to use a realtor still because I have never once bought any house, and am not super confident with the process.  Does this defeat the purpose?  I would think no because there are still other benefits for me, but was curious about your thoughts on it.  I understand it's one less negotiation point I'll have with the potential seller.  

Thanks for your ideas.