Best way to direct market to a small leads list? Waste of time?

[Duane Alexander]

So I created a listed of potential sellers using prop stream. Here is the list:

Owner Occupied:No Occupancy | Status:Vacant | Property Classification(s): Residential | Property Type(s):Single Family | Building Size (SqFt):1,300 | On Market:No | Owner Type:Individual | Estimated Value:$150,000 | Estimated Equity %:40%

Basically this is a list of vacant absentee owners with more than 40% equity. To my surprise this only results in 154 potential sellers. Most advice in regards to direct marketing is for people who are mailing 1000's of letters at a time. What would be the best way to market to these sellers and to a small list in general? I have another list that is the same but is only for out of state owners that only has 21 leads.  Should I skip direct mail and go straight to cold calling? Am I wasting my time and should I disregard this list altogether and market to a bigger list? Any advice would be great.

Background: I am a looking for my first deal for a flip, not wholesaling.