@Shane Clevenger
I keep my simple, "Hello my name is xxxxx, I'd like to buy your house at XXXXX address. I'm an investor that can purchase with cash and close quickly. If you don't have any equity I may still be able to help. Please call me at xxx-xxx-xxxx. Thanks"
I just started an active campaign. I'm sending to out of state owners of specific houses in my target area (block, over 800 SQ feet but under 2000, central heating / AC, who bought from 2005 and earlier) I was able to acquire the list from my tax collectors web site and manipulate the data to get the list that I wanted. I'm also looking into ways of narrowing this down even further to out of state owners who are behind on their property taxes. (about 60 in my list)
I'm paying stay at home moms to hand write, stuff, and stamp the letters and I drop them in the mail. I did some research on envelopes etc and found a recycled envelop that costs less than most standard, and because its brown I think it gets more attention. I'm getting an 8% response rate on this which I'm very happy with.
Good luck on your campaign.