There is a whole lot written here on direct mail/yellow letters.

My guess is they have already received a load of "yellow letters," and I'm wondering what the right approach might be to get any sort of negotiation under way.

If not, what is the best way (outside of sending yellow letters to the home itself)?

You will find there are many MA investors on the forum, so setting your keywords (see upper right of this page under the yellow podcast banner) will alert you to conversations and topics that you are interested in.Best of luck, you are smart to start early.

Does anyone have red/yellow flags they would raise to doing this?

Try a search of yellow letter campaigns.

Update 5; 3.12.14Good evening everyone, this is my 5th update and my report for weeks 1 and 2 (Feb.24-Mar.3) in my 3rd yellow letter campaign with me attempting to wholesale SFR's in San Diego, California.Activity, Results, and Findings.

That yellow is the Hardie board primer.

30 days ago , I order 1200 yellow cards from yellow card.com , I obtained the list from listsource.com , here is the result I got 70 returned cards due to inaccurate addresses so far , about 10 total calls, I meet only 1 seller in foreclosure, she was behind 12 month in payments, her house need 40 K for updating, ARV 170. so there is not enough spread , not only that the seller want 80 K .listsource.com provided me with :1) absentee owners with 100% equity ( 500 cards) : these owners are not motivated as much as I thought, many of them want 100% market value, not wiling to consider seller finance of any type, or telling you the least price that they can accept. they want me to give them offer since I approached them to buy their property.2) pre foreclosed list with 40-50% equity (out of 700 cards) : only 3 responds back.the result is worthless while it cost me about $700 for the total of 1200 cardwhat are the best source for accurate listing?

I would have had to start my Yellow Letter campaign ages before I even issued this challenge to myself in hopes of getting a response in my time frame.I'm turning to you guys.