Direct Mail as a wholesaler

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Hello, 

I am beginning my journey as a wholesaler, and I am starting to realize that direct mail is one of the major ways to get leads. Now my question is about the structure of your direct mail campaign. I was wondering if some of you could share how you direct mail when it comes to how many a month, what frequency, etc. I know that it takes a couple times of sending yellow letters or postcards to individuals (i.e. 5 to 6x) to get a reaction. Let's say I were to focus on pre foreclosures. I go to listsource and I get a list of 100 specific people. I send each of them a yellow letter. How long should i wait until I send them another letter? Also, in the meantime, do I look for another list of preforeclosures in another area? Or maybe look at absentee owners now and get a group of 100 absentee owners and send to them? Because essentially, even in your own county, especially Los Angeles, there will be hundreds of thousands of people you can always mail to. My point is, at what point do you stop? Do you stop when your funds stop? what would you recommend to someone that has limited funds and is just starting out. Any advice & personal success stories and tips would be appreciated. Thank you in advance.