I just wanted to mentioned it because I have work with several inspectors in the past and not all are knowledgeable and others I feel have a very fatalistic approach lol. 

Another approach is to look into markets where you have friends/family that can generate leads or work with local real estate contacts.

It is possible that the industry has wised up to the BRRR approach and penalizes folks for doing a refi too soon.

How do I approach the seller?

I would say an aggressive approach to investing would be a 70-80 debt to equity ratio, while a more conservative approach would be a 40-60% debt to equity approach.   

Seems like the former would the wiser approach.

This will determine what kind of strategy you will follow, core, core plus, value add or opportunistic.If you were looking at $100k-$250k of capital I'd say you could be more liberal in your approach but since you are talking about 7 figures I would be alot more strategic about where you park your capital.

So, this approach has some beneift; there are som risk too.

Hi All! So I finally mailed out my first marketing campaign and have gotten a couple of phone calls here and there. I don't have a lot of cash to work with but I do have a LOC which I reserved for down payments, point...

Mail is a good proactive approach to reach people who aren't yet actively searching for a way to sell their home.