Mailers for Seller Financing?

[Josh Lawrence]

I own one SFH rental and want to purchase more ASAP. I dont have cash for a down payment, I could ask my father as a last resort but I want to do this on my own if possible. My question:

Should i send out letters to property owners in the area im looking at to offer to purchase using seller financing?

I was think something that would show the benefits of having them carry a mortgage, and I would mostly be targeting burned out landlords and absent or retiring property owners that own free and clear. I would hope to do some zero or little down deals around the 7-10% interest area.

Is this a plausible idea? I have done letters just like this for my property management business years ago, and had great success. Of course that was a different animal.