@Darian Berry I wrote a blog on writing benefit-driven letters to sellers.

cost: how do you get 30 cents per letter?

I attribute that to the personal letter I wrote with a picture of my family stating how we would make the property our home. 

Are they usually 5-15 yr balloon? 

It covers costs to mail out postcards or letters, it covers their costs to acquire a list, and their time dedicated to taking calls, negotiating the deal and building their buyer’s list.

Introduce yourselves in a hello letter, on how to pay the rent and to whom, and who is responsible for the management of the property and how to get a hold of the property manager for repairs. 

I understand I need to write the "denied" tenant a letter with the credit reporting company information.

@Mark Brogan,Yes - Few words in large letters that can be read across a highway, large phone number.Try for a "vanity" number, something easily remembered.

Watch out for bankruptcy, or get them to sign a letter saying they intend NOT to file a BK and include you-  All borrower can really get you in a real bind if they file bk. 

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