Not impossible that this certain local prices have dropped that much.

After I managed to creatively finance it, this deal isn’t going to cash flow at all for the first 3 years until the 3rd note drops off, and after 5 years when the 2nd note drops off it will cash flow at least $250/unit/month.

Side note, if you can breakeven on long term rent, then you will cashflow when rates drop and your home will likely go up in value when the market responds!

Sounds like you got a great return on your mail drop.  

I'll add, in investing you have to follow your gut and if you're already calling it "very questionable", drop it and move on.

Open a separate checking account dedicated to marketing and budget 6 months of mail, so if you have $6k, you would do $1k per month with 1/4 of that dropping every week.

Anyway I can only imagine this market will burst once rates drop as we've appreciated 10% YoY on "higher" interest rate environment.My 2 cents on your acquisition: Miami and Broward have many upcoming developments and it helps to know where they are being developed, as we all know, location is #1 and it helps being in the path of progression and gentrification. 

Drop your thoughts below!

During that time, the median sales price of a home in the City of Austin rose slightly by 1.7% to $585,000, while the greater metro dropped 6.6% to a median price of $425,000.

You all need to go after motivated sellers, not just off-market sellers.FSBO are all about offmarket, but most of the time FSBO want market value.So to answer your question, and to be more helpful and of value than you think...here is what you need to do.Distinguish off market sellers, from motivated off market sellers, because this distinction in your marketing efforts will make ALL the difference when it comes to  results.Then reverse engineer your strategy based on the behavior and distinction of those motivated off market sellers.So if you understand what I am saying here... your question about "templates" is wrong.It is not about where do you find templates for off-market deals... your question should be, where do you find  motivated seller off market deals... because when you know where they are.. you don't need no stinking templates.You just need to explain how the process works and the result...well:If I had a mic, I would drop it right about now.Good luck my handsome feller!