Ideally, you'll want to negotiate all the salient terms of an agreement via informal communication and letters of intent, then bring your attorney in to draft the documentation. 

Hello BP members,I have my first of 2 call backs from my yellow letter campaign.

We are looking for possible other creative financing and possibly other partner investors or buyer investors that don't mind holding the property for rent income.UPDATE: I just dug up the Cook County Assessors letter from Mid April 2014 stating Estimated Fair Market Value at $358K , 2013 at $393K and 2012 at $393KThe 495K is from mortgage paperwork we found as well as pre foreclosure website search, listed that price as well.

If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.

On my first purchase form a yellow letter i sent the out of state owners a line-by-line rehab estimate with a price for every little thing. 

There is some gray area about some of the no action letters from a decade or so ago and many companies are more aggressive with what they show in their OFFER (not sale) of securities to non-accredited investors.  

You must type the @ symbol and at least the first three letters of the person's name as it appears in their profile.

If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.

I would send a letter out to them something like this:Dear Tenant on Lease, It has come to my attention that you have an unauthorized resident living within your apartment.

I think the pros far out weigh the cons - most of the cons have been mentioned already but I think one of the bigger cons would be in yellow letter type marketing...in Oregon you are supposed to disclose in every communication.