This tends to eliminate the he said, she said from the rental process.

Not that they ignore Credit Score, etc. but they tend to use a more asset-based versus income based approach to their lending.

I would mention that I had the letters and see if he wanted them.I have offered or returned items in the past most folks are surprised only ran across one nut who had rented a place 30 plus years before from a couple we got it from.They had stored a lot of stuff in the attic I was warned she would be a problem and to keep what I wanted and trash the rest but I insisted on returning the stuff so I called and I hauled the boxes and luggage to her  She started with calling me a thief,actually called the cops in the small town saying I robbed her That I kept antiques coins other junk(cop got a kick out of it and said I shouldn't have gave her anything back)her husband said that they had forgotten about the junk  She told people in the area I was a crook for awhile  lol Later she went to realtor school and offered to help me find property

So the monthly nut is $1670 and that's not counting maintenance costs.They usually want to hold on to the condo because they think it will magically double in value in the next few years.

The 50% rule is a rule of thumb that states over time, and across multiple properties, Expenses tend to average 50% of rental income (excluding mortgage payment).While it is a good first pass to identify properties,  you will want to put real numbers into determining your cash flow.  

What drove the listing agent nuts is I told him the buyers offer required me and the buyer to present the offer directly to the seller and no information to be given prior to the presentation of the offer.

@Tee Allen I haven't used this strategy but in my experience, getting people on the phone or face to face tends to get results of some nature.

This has not been my experience with single family rentals which tend to attract higher income people as rents are higher.

And the lower ranks don't tend to buy. 

This is because they are big competitors and tend to schedule their events on the same day (so you'll always have to choose one over the other).