I did some test ads for renting out the 911s and no probs here in LA, dudes from Europe, tourist etc is like non stop out here.

I hope to supplement my income, learn the ropes, test myself on whether or not being a landlord is for me, and in general build a catalog of properties so that I can one day transition out of working for the man and in general live a less stressed life. 

It was my understanding that previously, based on this document (that was superseded in September), net rental income for purpose of the self-sufficiency test was reduced by the greater of the appraiser's estimate for vacancies or the vacancy factor used by the jurisdictional Homeownership Center, which in California is 15% since California is covered by the Santa Ana Homeownership Center.

Before you scale up big make sure you test small and know your response rates/metrics so you have something to measure and project off from.You are correct the best deals dont need to be sent out in an email blast.

Most of my doctor clients invest in commercial as they do not have the time for residential being more intensive to manage.

It's management intensive but by being local you can use that as your "job".

I'm working towards a pretty similar goal (taking the test in mid August) and hoping to work mostly with investors.

It is highly time and energy intensive process to find leads and work those leads into deals... because you have to start from scratch sending out let's say 2000 letters, receiving 20 calls, then negotiating those to get 2 deals. 

I'm not sure what James was using to test the response rate of letter against postcards, but generally, you will get a 0.5% response rate with postcards and >3% response rate with letters.3) I recommend, and send to my own prospects, about every 4 weeks.  

There is a "safe haven", of sorts, most RMLOs can't underwrite, they took a 100 question test base on secondary market requirements and the new qualification requirements of qualified and high cost loans, neither of which take an approach of qualifying a borrower 3 or 5 years into the future.