I would go for the professional type mailer however, not some weird yellow letter.Go for a letter that shows you are an actual company  (or individual) serious about being able to buy in cash.

I would also avoid using any of the phrases or appearances (eg yellow postcards or fake handwritten-font letters) wholesalers use. 

WTF people.Now.. here is the thing.. if you have EVER heard any of these gurus tell you this (scripts, foreclosures , lists, cold calling DMM, texting, yellow lettets hand written letters post cards...bla bla bla... know this.. what I am saying here.. is absolute and universal truth,  completely irrelevant wwhether you believe me or not.

I mean,  those nice people.The way you do it is just going to Zillow, look at the properties recently sold (that yellow ball) make sure the properties are as close in location and characteristics as your subject property and you just pick 3 to 7 similar properties and you take the average of the numbers, or you calculate the cost/square foot which ever fits the situation better and you get that number.NOW... this "solid" analytical method, I did when I was more of a beginner.

You're filling the tank.This is where the saying came from "If it's yellow, let it mellow. 

And Vivid Vision. 

If it is from a Yellow Letter, a Bandit sign, or a website.  

OUTDOOR works - legit methods like billboards and bus signage, etc. as well as (usually illegal) methods such as bandit signs.DIRECT MAIL works when the right message is sent to the right audience in a cost-effective manner - such as postcards to absentee owners.PAY-PER-CLICK work - it's the new Yellow Pages.  

Has anyone every sent a picture with their yellow letter showing the potential seller their vacant, rundown home as a vehicle to bargain?

Take that 5,000 and split it up as follows.3,500 in yellow letter postcards or yellows letters for 7 months.