Some pros:-unlimited potential income-income is directly correlated with the amount of work I put in-time freedom (I make it a point to have breakfast with my 1 year old son every morning)-exciting, dynamic. 

That said, the 2nd most important criteria your ability to close.For a 10 unit, skip the letter.

Have made contact with owner's brother, but don't know where owner is.My general idea has been to try and skip-trace the owners or their next of kin and see if we can arrange a short sale to net them a small proceed instead of leaving the property vacant. 

Every deal we do involves skip tracing and cold calling.  

its why lenders run CREDIT and TITLE search Credit will get anything that is on their fico and lien search anything recorded in the county that the subject property or the person wants to buy in.. they can slip through though I am sure.. but then the judgement creditor needs to go to the county were the debtor bought and then file their judgement as a foreign judgement but at that point they are second to the new loan put on ... not a senior. although I think the term rental on your LLC would give other landlords pulling credit a clear indication that the debtor skipped on rent and could not BS there way through it... lending is tough right now anyway.. those type of folks basically don't get loans.. unless lender RMLO wants to try to monkey the credit which some don't have anything better to do and will do that.  

My wife and I will be bootstrapping which Is what I prefer so that there isn't anything I skip over and don't learn as I grow our company.I started with the 10 Hour Wholesaler program which was good for the intro into the business and gave my action items to follow.

Let me recap the costs for Foreclosure/Court house auction:Title search prior to bidding in auction (Dont' cut corners)Actual bid priceFlorida Documentary stampCourt registry costsTitle insurance (OH yes don't skip it)Cash for key (IF you ahve to deal with occupants.

It is not as helpful in getting to or skipping over the middle class. 

I get a feeling that investors want to skip the agent's fees. 

@Chrissy Arnold i usually just skip trace and get the owners on the phone. i will also send out handwritten letters.