My goal is to send out 5-10 letters a week, depending on what I find.Yesterday I received my first response from a letter I sent out.

We are also pursuing foreclosure in tandem, and a future sheriff sale date may be delayed to further negotiations....Thinking about this, this situation brings a few questions to mind:While the risks of each investment are apparent and are my responsibility, what is the liability/responsibility for PoL for their decisions regarding management of delinquencies/foreclosures (i.e. do they have free reign to forgive interest/debt to avoid foreclosure even though foreclosure might generate more profit for investors?)

Thanks @Chris Piper I appreciate your response!

I just wanted a general response from the BP community.

you EAT the decisions of the PM and have liability for the results.With absentee ownership, you may have no choice but to use a PM, but 19yrs being 2hrs , 120 miles away, I created a local team to do the heavy lifting and I did the screening and decision making - - seems to have worked out well (see profile).I think I might word that a bit differently, J.You take responsibility for the actions of your agent(s), PM(s) and other team members and also the liability.

Anthony,Thank you for your response!

I'm wondering WHY anyone would pay that much for it though, if it's for investment purposes?

Thanks for the detailed response @Matt R.  

I always go to view the properties and meet with the property owner or person handling all paperwork and financial responsibilities on that particular property. 

I have to apologize, I didn't even look at your link before my first response.