Off-market worse than MLS so far.

[Lee Davis]

  I have been trying to buy a buy and hold for several months in a very hot market where I've been getting outbid over and over again on listed properties. This lead to me to pursue a small direct mail strategy(mostly by my wife and I's actual hands) to absentee owners, of which I've gotten a pretty decent response rate, about 10+% so far. I've made several offers, but it seems the people responding are expecting even crazier valuations well above any comps  because "their realtor says its worth ____" and I haven't been able to sell the advantages of owner financing well, etc. 

  I suppose I'm reaching out for some moral support. Is this to be expected? How do you navigate around these obstacle after putting in all this effort? Just keep searching for that needle in the haystack? How many months of repeat letters before you throw in the towel on an area and move onto somewhere else?