So that's where I begin, figuring out how to generate some leads using a direct mail campaign.

I do agree with that @Brian MathewsI was wondering more on the side of advertising to the general consumer.

I bought two properties from my letter campaign.

It seems that most banks advertise only up to about $100k for a heloc.

They will charge maybe 10% of the rent, but you don't have to deal with creating a lease, advertising for tenants, arranging showings, organizing maintenance calls...Unless you've got a burning desire to "be a landlord", it's money well spent.

It also doesn't really matter, the reason could be because the brother of the borrower was the State AG and new loan guarantors stepped up to reinstate the loan and opening a $10M deposit from the run off of a some non-profit political campaign fund, no telling, but you can be assured banks don't just walk away from money.Your concern is to locate the owner and the amount of liens, past actions that have been cancelled are irrelevant. :)

We narrow the field by providing some of our rental criteria in our advertising and a full written copy of our rental criteria at the time of showing.

Don't believe the "bank approved short sale" advertisement, especially from gangsters.com.

I'm about to send out my first yellow letter campaign and have determined that making the most of the leads created requires the phone to be answered live every single time.

If you don't have any yet, ask to advertise for a fellow agent(s) in your brokerage.In real estate sales marketing is about a return on your money.