There are legal definitions that come from or are adopted by IRS Code, "Investor" is one of them, so is "Operator" after 6 years on BP, I've come to accept the popular term of "investor" in social interactions on the internet, how we use the term, but the true meaning remains as the Code sets out.Doing a sandwich lease is perfectly fine, if allowed by state law or it isn't prohibited, I doubt sub-letting a residence would be. 

I am analyzing a potential deal now.  

Even so, it does look like most of the increase in rentals is likely to be permanent, particularly in light of the fact that no economist or housing expect I know is predicting a return to the pattern of development and growth seen during much of the past few decades.and the biggest takeaway I have from this work, is that in growing, popular areas like Portland, even if the market shifts back toward ownership somewhat, overall demand will increase for both [ownership and rentals].

Sounds like a great plan and goal to shoot for next year.In the "analyze" tab there is an investment calculator.  

I also remember 'peak oil' theories being very popular until a few years ago.

@Kevin Trumbull just so I understand.. you include the reserve in the denominator when analyzing a deal but you don't include the capital expenses that will pull from the reserve in that initial analysis?

Analyze, inspect, negotiate, and do my first deal.I know this is by no means a very in depth plan, but it is enough information right now to give you an idea of how I want to proceed.As for the advice I am looking for, I wanted to know how successful some of you are when it comes to direct mailing, and if you think this would be a good marketing vehicle for a first time investor (Oh yea, I should probably say that I am planning to start my career in real estate investing by wholesaling to help generate funds to do bigger deals)?

One more thing, if at al possible, Become a PRO here on bigger pockets and use the Analyze tab to see if the deal is a good one AND use it to print out the deal to convince buyers or lenders to help you. 

Another very popular one is Corelogic Credco but they enforce the same rules as far as requiring an office etc.Hmm, that sucks that FCI won't help you with this.

You need to look at each situation individually and analyze it like you would any other financial transaction.