I've heard loosely that offer acceptance runs at about 10-30% per person, typically.

For example, our plan (loosely) is as soon as we make the same amount that one of us makes in a year (the lesser salary, of course) that one quits and focuses full time on RE investing with the other still part time (goal of doing this in one year).

ThanksDaria, I'm sorry to hear about you loosing your job but this opens up an opportunity for you to take control over your retirement accounts.

But the process of taking guided action while you learn is where you will grow by leaps and bounds.  

I know that the owner of the homes is in a distressed and fragile state with loosing their home.My question is, how would you tailor your direct mail campaign that does not elevate their stress and have the direct mail campaign portray an image of wanting to help the owner in their current time of need with their financial bind by selling their home before it goes to auctionAny thoughts, comments, examples, or previous experience on the pre foreclosure target is greatly appreciated!!!!

Another option would be to weigh out how much the fees are vs what you could loose if someone poaches your deals.Another option would be an assignable contract that you get the sellers to sign. 

I would like to generate some Cashflow from it since I'll be loosing $538 a month from the property.

I've been to the auction at the courthouse and those are the rules, have your funds ready in advance as you will loose your deposit (and that must be in certified funds) if you miss the deadline.

Trying to convince an institutional lender to initiate foreclosure on a vacant property is like trying to persuade you spouse or friend to loose weight. 

Typically, in our area, the lease gets assigned to the buyer, so buyer and tenant are both bound by the existing lease.