IMHO you should stick to a generic letter about buying a home and not the situation the seller may be in. 

When you have your business cards created make certain to make them generic..

For example generic zip code lists from list source?

My question is, do you think it is important for the actual letters to be personalized to the PR & descendant address (mail merged with a CSV), or would it be ok to use non personalized generic letters (but 4 different ones), with the envelopes obviously addressed to the PR? 

I would call using a generic cold call script something like my name is Michael Quarles with I buy houses, we're  looking for three and four bedroom homes in your neighborhood and I was wondering who do you know that's planning on moving.  

@jorge @Jorge Borjas with exception of the Mortgage Late list for Pre- Pre-Foreclosure marketing, Divorce List for that group, and generic business lists, the equity and buyers lists are pulled from Listsource.

Most of the books I see on the topic are generic to business as a whole, rather than specific to real estate. 

I think that a common mistake is being too generic.

They have a generic message and they only hit them 1 time.

**When you say build a portion you mean just don't pick the generic "Absentee" list, add some more parameters to build a more targeted market?