Another potential problem is the list may update each month but it could be a very small number of new leads to mail.

The information was so valuable to me, it lead me to purchase a 3-day workshop, which in my opinion was worth the $200!   

You need to learn about sourcing leads, what goes into a rehab, how to run comps, etc. to ultimately be successful as a wholesaler.  

What I am trying to determine here is a "rule" of my own to use when evaluating potential leads and if this is feasible. 

Our ISA identified the seller had interest in discussing selling his property (at this time we only knew of one) so the lead was transferred to our closing specialist.

These large professional sponsors have mature deal flow pipelines; so, it has been an intentional strategy to generate deal flow for me in a market where others are having a tough time finding properties that meet their criteria.It was a lot of work leading up to this stage, even vetting the passive syndication strategy.

I would try just creating leads outside of the norm (away from the MLS).

About 8 of them seem like good wholesale leads that I have been working on.

Once they intercept the client, they sell the lead to MULTIPLE agents. 

Spend as much time as you can on lead generation, then spend some more time on it.