I wanted to know is this a right approach of investing ?

That only leaves you with a few options.Change your buying criteria (price, location, property type, ect...)Stick to your criteria/wait (you will likely be left with the same results for awhile)Find a new approach to find deals (direct mail, REIA groups, working with an agent, ect...)Seems to me if you want to get in the game you will need to change something.

Typically, investment properties are valued based heavily on the income capitalization approach.

Many criticise me for my hard nosed zero emotion approach to our business.

From all points of view, its design flaw is that it will crash every so often.

My question is, how do I approach homeowners that don’t know me and how do I start that conversation to get them comfortable with me.

In my experience some, people like the direct approach while others like to to chit chat a while and get to know you before they will talk about business or they just hang up. 

They look at comparable unit rents and using the income approach they can determine value.

Nothing could be simpler that the direct approach.

Graphic design, sales, over the phone),...Mentors are willing to help when you bring far more value than the cost of bringing you onboard.