It can cause emotional distress.

My wife Dawn and I have started a part-time business in Rockledge, FL to buy, renovate, and either flip or rent distressed property. 

The property is distressed.

I only sent offers to extremely distressed properties based on provided pictures.My question has to do with direct mailing to Pre-Foreclosures.

hey @Jacob Nunn - like a lot of aspects of the plan - sounds like you have been busy on soaking up all the knowledge.two thoughts from my POV for what it is worth:1 - would be careful on tying up too much cash in the distressed land aspect.  

Good Evening:How do you go about finding Properties that are Distressed ( not properties listed on HUD or HomePath ...... as these properties Never seem to need that much work done to them ) I am looking for properties that I can pick up for around $30,000 - $40,000 and that need $15,000 + worth of Work done to them And who's ARV would be in the $100,000 - $125,000 range I have the Cash at hand to Be All-In on my end of things , at around $80,000 - $90,000 But I don't want to have all of my Cash tied up into one Deal, But I also want to make sure than I can Flip these Properties rather Quickly , by being able to offer them at a Purchase Price at roughly 10% BELOW the current Market's Value on Similar Properties with the same comps, and that are within a 5 Mile Radius of the Properties that I fix N Flip Is a Driving For Dollars approach most Likely my best Bet to find these " Severe " Distressed Properties ( Not so Severe though, that they have Structural or Foundation Issues ).

You see, when you are buying distressed properties most conventional lenders won't be able to fund the loan.  

FSBO, pre-foreclosure, distressed sellers).2.

As a contractor I always prefer a full gut but it does eat away the rehab cost and takes longer but no stress about plumbing, leaks, electric, lead paint and etc in the future.The patch up would cost less, fast timing, but then you are gambling with what's behind the wall and hoping nothing happens in the future.I assume most house that are purchase for BRRRR purpose are in distress/bad condition and old on some occasion.What rehab number would you go for?

It has great potential but is currently a distressed property, owners divorced and walked out.