We already deploy email campaigns, and attend a few conferences a year, but I'm trying to figure out what I should be adding.

I'm using listsource to get started on a direct mail campaign, and this questions has been in my head for a while.

I found it in the newspaper, but it wasn't advertised that way. 

You can do Direct mail campaigns, CL, drive for dollars, local REIA, etc.

How should I obtain clients? How do I get a client to trust me with selling their property for them although I have no experience? How to I gain more confidence in representing a buyer or seller? Should I be intimidat...

Built in 2002, it is a fully rented four plex (one unit is month-to-month so we would move in there).Current asking price: $495,000 (though originally listed at 474k, he upped the price after 16 days)Days on Zillow Market: Over 100Reason for Selling: To either purchase a SFH for himself and his GF or buy a commercial property, possibly storage unitsRents: 4,400 monthly (Owner said 2 units could be easily increased by $50 to $75 each)Expenses (annual)Property Taxes (assessed 2014): 7,754Insurance: 3,000 (guess)Maintenance & Repairs: 4,200 (guess)Utilities: 4,500 (average for last 18 months from water company, owner currently pays water/sewer/trash but there are separate water meters so we would look into passing this to the tenants as the leases expire)Advertising: $150 (only advertising is for new tenants when leases expire)Administrative/Misc Costs: $150Mortgage Insurance: $6,501 (from mortgage broker at 490k loan level)Snow Removal: $1,500 (as acountants, our busy season is during the winter and we don't have the time or patience to deal with this, there is a sidewalk + steps + driveway and back parking area to be plowed)Lawn Care: $150 (supplies fund, we will mow it ourself, first year expense of a lawnmower not included)Mortgage: 26,579 (FHA, 3.5% down, 3.75%)At 495kAnnual cash flow: $-1,684CoC: -9.72%NOI: 24,895Total ROI: 40.89%At 450k (keeping mortgage insurance at 490k loan level b/c I don't have other numbers)Annual cash flow: 762CoC: 4.84%NOI: 24,895Total ROI: 55.54%As it stands, my numbers are telling me this deal will not work, given the $100/mo/unit minimum standard most people are looking for here.This is the first deal that I have really looked at though as seriously buying, so I would love other people's opinions on my analysis.

I am looking to build a mailing list for distressed homeowners, absentee owners, etc in my area to start a yellow letter campaign.

Some of that will depend on how targeted your lead generating is, but that's still the numbers I use to set people's expectations.I don't know your budget, but if you want to talk to people, you can set up a website on Investor carrot for $30/mo and do an adwords campaign for about $1-2/click targeted right and you'll get calls and leads off of it. 

If it isn't much, I'd opt for the engineered to advertise the house as having hardwood.  

In addition to the expenses you mentioned, (mortgage, vacancy, repairs) consider:Property taxesRental income tax (if applicable in your area)Utility bills (unless tenant pays)Property management (unless you'll do it yourself)HOA fees Advertising (when vacant)Best of luck to you!