I tend to use a gross rent multiplier instead of cap rate since the math is easier, a 50 GRM is the same as the 2% rule.

It is a numbers game meaning you need a decent size list and you need to mail it consistently to harvest the results.

No, but I can do my little part to affect change & profit while doing it.I also like the idea that I can make the cash flow multiply in short order by reinvesting in additional lower cost properties.

Hey Everyone, In the past year I have mailed yellow letters and postcards but was not successful (a few calls but no deals) because of the lack of consistency with the mailing.

In an isolated year it could be achieved, but to consistently rely on these numbers will undoubtedly result in disappointment and increased probability to over extend yourself.  

It's all about having systems and procedures and following them consistently and minimizing your emotional responses and eliminating  biases. 

Surrounding the area, there are also plans for four new neighborhood developments including hundreds of apartments which will bring something more sustainable and consistent to the area. 

Most consumer direct lenders charge a standardized origination fee that consists of processing and underwriting which normally should be in the range of $1200-$1800 + your standard 3rd party charges of title and escrow which again should be around $1500 for a conforming loan.

As your profit grows from repeated use, you can multiply the number of rehabbers you can partner with.

Then just treat it like any other job and keep at it consistently.