Yellow letter campaigns are all about establishing contact and personal rapport.When I did campaigns I invested in a high end color printer with high DPI and also used Fontofier dot com.They created a custom truetype font of my handwriting to use on the letters (I'm and Engineer and because of creating drawings have very distinctive handwriting.Because of that my envelopes and letters look handwritten.

Thank you for posting this distinction of hands on investor involvement.

Legally you are the same person (investor and licensed agent) so you can not operate two distinct entities.Being smooth on the phone is not enough.

The distinction is that credit card debt does not have a secured interest in the property, whereas HELOC debt does. 

I think there's a distinct difference between what you say and what you do.  

Occasionally they are capitalized into the loan, which is a different calculation.Thank you, Steve, for pointing out the distinction.

I am not an expert in this area, but I thinks that sounds fair in a distinct future ..

I can show my calculations on the hundreds of thousands of dollars I expect to profit but show the delay in cash flow and the novice will look at someone else's calculation of how they will get $200 a month (hopefully) and they jump on the cash flow either because they are poor investors that are not educated on the difference between cash faux and profit OR they are poor investors that need that $200 to pay next months  cable bill.Other than this distinction, Seth, can you elaborate on any other valid differences?

., my little crystal ball shows that one distinct possibility is 3% to 5% down, FHA or FNMA, live in it for at least a year while saving up your 3% to 5% down on the next one & improving the place you are living, convert the improved departing residence into a rental, rinse and repeat. 

I understand those are normal terms for buy and hold on investment property.you must have a very good relationship with that bank... not one that many could match would be my guess.If another person had done this with traditional HML it would have been about a break even is my guess.... you have a distinct advantage over many with your cost of capital and your ability to fund stuff out of pocket..