Yeah if we pull the parcel on a Floodcert and it comes back with the letters A or V then it requires flood insurance.

I sent a letter to the owner address listed in Alabama GIS, but they never responded. 

This is cream of the crop stuff.A PE "investor" called and says "I want to send you a letter of intent". 

You write an offer letter.  

Cash out refinanced a year later into a 5 year balloon on a 20 year amortization.

It's not just about agreeing on the numbers, you also have to figure out things like: - Financing terms (what rate, duration, amortization schedule)- Balloon payments (sellers typically will require 5yr balloon payment, expectation is you would refinance into conventional financing before then)- Renewal options on above (sometimes sellers can provide another 5 year option to keep seller financing amortization schedule, they can charge a premium for this etc.) - And much more. 

Hand-written letters, postcards and letters for people you've contacted.

Also, the owner-financing has a balloon payment in 18 months. 

It's not only the rehab but the ability to market and sell the property before the balloon payment comes due. 

Do you think writing the letter is good idea?