Initial Offer Method In Direct Mail Marketing

[Ray James]

After the new year I plan on doing a very small scale, slow direct mailing / calling on currently off market multifamily properties. If I get an interested party and they provide me some basic info to give an educated initial offer would you recommend a Letter of Intent to begin with just to keep things relatively fast & informal if there is a lot of back & forth on the starting price or would you have an attorney or agent write a contract right away? 

I was thinking a LOI would be fastest & simpliest until we meet on a number and then get it under contract right away. Thanks for replies.