When doing research on potential areas to invest in, I would first decide whether you want appreciation, cashflow, or a mix of both.

You can always request Medical Documentation: Request documentation of her medical situation and a letter from her doctor to make sure her condition will improve and ask if she is up for taking care of the property while she is recovering.Check Her References: Contact previous landlords for references to get a sense of her reliability as a tenant.Lease Terms: You can always start with a 6 month or a 1-year lease option if you have a good idea of her overall health condition.  

I’ve talked with yellow letters for mail outs, so that’s covered, but what about cold calling?

I provided them with other property management referrals, and then Poplar sent me a demand letter.

My mortgage lender said they aren't able to do this and sent a letter saying it's not possible.

.- Most of the deals that came our way were for 60-70yr old wood frame buildings, that had been owned by their current owner for 25+ yrs, and we felt there was a definite risk that the economic viability of the asset was less than our planned (buy and hold) time horizon, and we were also highly skeptical of the insurability of some of these buildings or that the cost of insurance would not balloon once the ownership transition forced the insurers to reassess the building.Ultimately we pivoted to retail/light commercial mixed use properties.

We sent old manager a formal letter stating she was not performing so we were hiring new management.

I have heard mixed signals on this, but it seems that some lenders are allowing them now.

If you use any of the major mailhouse services, like Yellow Letter HQ (a service I can personally vouch for), they offer a variety of templates and even provide text suggestions.A smart way to analyze this strategy is by observing people in your local market who use mailers and identifying what works or doesn’t work for them.The simplest and most effective way to test this approach is to pull a hyper-targeted list of distressed homeowners and run a small-budget mailer campaign.Hope this helps!

More people in the mix means more opinions, which can slow decision-making or create conflicts if you're not aligned.