To a casual observer it may appear to be the same situation but it is not.

They aren’t a “scam” in my observation, and it could just work out.

Once the Court has made it's decision, and the big headache is gone, most Landlords go back to being pretty happy with their asset rather quickly.Your observations on timing and motivation are very astute, but I have found more than 3 touches to be a waste and accelerated mailing to be non productive, even harmful.One other note....I RARELY hit a home run with this list.

One observation however is that you've sent 1 mailer to 600 names.

My stats improved when I changed my approach to attract only sellers of certain types of property-vacant and needing repair.I changed my methods of marketing once I observed that the things I was doing to attract deals just did not produce the correct result.Credibility and confidence closes deals.When I talk with the seller about the several rehabs I am doing(to not boast,but subtly work funny stories or even horror stories about my contractors naturally into my conversation) they know they are dealing with someone that will close the deal.Sellers are making the largest deal of their life and are afraid of making a mistake.

In my observation, these are often two different investors. 

I personally observed YL actively seeking to take new orders from people they believed to be new customers, after the supposed "shutdown".YellowLetters.com has now re-branded and they are answering phones again. 

But these observations are true wherever you are.

When you say mot taken action yet was a good observant.  

I'm actually interested in this question too, so would like to hear others input...perhaps I dont know enough about this residential commercial space, but sofar dont know how a cap rate wouldn't be one important metric to consider (among others), especially if speaking with a lender.Just a 3rd party observation to the discussion.