@Leo GoykhmanI will try to answer question #1 You might try sending a yellow letter to anyone you know that owns property your interested inWritten on yellow paper in red ink it simply states that you are interested in purchasing the property at (address) and if they are thinking of selling supply your contact infoSorry don't have time to answer the others

The yellow letters is what I know people are using in Houston.

I have used this one to very nice affect:http://www.glidden.com/Color/Paint-Colors/Yellows/...In large rooms with plenty of natural light, it comes off as a nice creamy and surprisingly neutral color.  

I used a service like yellow letters.. .49 cents per card with first class postage..

William there are two ways you can help this seller using leases and optionsYou have to ask yourself whether not the property is going to appreciate overtimeIf you feel it's not going to appreciate, you need to get a price below the market today on your option with the seller,  if you going to do a sandwich lease option and stay in the middleIf you going to do a lease option assignment where you lease with an option from the seller and assign thevdeal to a buyer for fee, it  doesn't matter what the price is as long as the price is today's value or lessWhen I talk to sellers I don't talk about lease is an option, I first go through three columns landscape in a yellow legal pad,  and show them the basics of the choices: 1) sell with an agent and pay the customary costs include sellers concessions, agents commissions, closing costs, vacant house holding costs, etc.The first column it's important to go through an example of their house value; what ever  the fair market value is, do that exercise so that the seller truly understands he's going to net a lot less money selling agent than ur solution2) Second solution entails leasing out with the property manager, and you go through the cost to lease it out and also the cost to repair and sometimes property managers tack on other costs like padding maintenance costsThen I talk about the risks involved with leasing it to an unproven tenant, and then having to evict the tenant, lost rent for 6 to 8 weeks, clean the house, remarket and screen the new tenant, etc.Before I go through my solution, I say a "what if statement" that is something like this:Before I say the "what if statement" it's important you understand that I am using "negative phrasing" here, and ""appeal to a higher authority" which works a lot in terms deals like lease options, sub 2, and wrap purchasesHere goes.."

The owner left a message concerning my yellow letter, so I take this as a sign of interest. 

I'm seriously considering sending out "three option letters of intent" to supplement my yellow letter marketing.

She called back from yellow letter. 

She called back from yellow letter. 

:)I mean, I could send a yellow letter out, but is that my only option?