The beauty of sending a letter to the property address is that they will often get forwarded to the current owner's property address, not always but enough to be worth a stamp.

I don't have the time to hand write, stamp, stuff 1500+notices a month.

Also rely on dated & time stamped before/after photos from your contractor for items repaired.

Liquidity is far easier with a single family home than a multi unit building so if you find out you are not into being a landlord you would be much less likely to lose your shirt.

Gave her the template, envelopes, and stamps.

Remember to get postcard stamps, they are cheaper. if you truly want to automate, you would probably have to use lob.com API to link up with your CRM. also I second the person who said you have to send a lot more postcards to get a deal.

People that lost their shirts in the great recession were highly leveraged and buying with little to no free cash flow, if the market corrects you lose.

So that's my 2 cents, the competition is down - but who knows if you'll lose your shirt if you DO get the house but the market tanks. 

@James Orr Here are the numbers on a house very close to where I currently live:Price Point (250K) with 10% down3 bed/1 Bath - Rents $1,500.00 (Median Rent Range)Vacancy rate - (8%) ($120.00)Maintenance (10%) ($150.00)Effective Gross Rents $1,230.00Debt Service on 10% down (1,412)Cashflow= ($182.00) * 12 = ($2,184)/yearI play a very conservative game as I do not want to lose my shirt.

After 4 units, the building goes from being a residential structure (governed by IRC) to a commercial structure (governed by IBC) so it must be approved by the state (which means stamped drawings), meet ADA requirements, meet fire protection requirements (which is usually sprinkler systems) etc, etc.