Very, very successful.I sent out beige "invitation" envelopes and "hand written" letters (used a computer with a "hand written font" for months - about 200 a week - lots of calls - bought some properties, over all successful but time consumingThis is over the years, so messages changed with the real estate climate and list.List, message, mailing piece.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

I have been doing it successfully for well over a decade. 

But just hating on wholesaling in a wholesaling forum is so unbelievably pointless. its not dead per se  but it is starting to be regulated as it should.. oregon just passed their version. where to wholesale you now need a license and over site by the RE commission.. along with criminal back ground and a BOND.. and as we know not everyone can pass either of those with the bond being the tough one if you have bad credit your not getting a bond.

As a co-host for short term rentals, you may not need a license as long as you're not crossing over into activities that could be considered brokerage activities like handling any contracts, collecting rents, doing any accounting, approving tenants, etc.

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

I once bought a house that had been on the MLS for over a year.

What caused you to (likely) lean that route over all those other options out there?

I agree with Alecia about only screening people over 18. 

What would you do if you could do it all over again?