My question is as follows: Property 1, The ARV is 115k, I have a possible purchase price at 95k with a 15 year note/ 7 year call (balloon)/ 10% down/4.99% rate.

If the latter then have your lawyer send both buyer and seller a very nasty letter explaining the consequences of attempting to rip you off.If the former then you can always sue if you think you can win.

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Has anyone given letters to new tenants (we have a property manager), with basic budget resources (ala a Dave Ramsey), with the discaimer we are not financial advisors and reviewed by our attorney. 

Since the bank REO inventory seems to be drying up, I’m ramping up my private seller marketing once again (yellow letters, etc.)

They were just happy to be done with home.I do have them sign a CYA letter stating that note will stay in their name and that I intend to rent property.

When I first started gathering info to market, I thought I had to know EVERYTHING upfront about each property before I mailed a letter.

Focusing on my marketing campaign, trying different strategies: bandit signs, post cards and yellow letters.

We used @Jerry Puckett and did a mail drop of 1k yellow letters to high equity home owners.

@Bryan Johns  I would say you need a little capital built up or have a pre approval letter.