Analyze, inspect, negotiate, and do my first deal.I know this is by no means a very in depth plan, but it is enough information right now to give you an idea of how I want to proceed.As for the advice I am looking for, I wanted to know how successful some of you are when it comes to direct mailing, and if you think this would be a good marketing vehicle for a first time investor (Oh yea, I should probably say that I am planning to start my career in real estate investing by wholesaling to help generate funds to do bigger deals)?

The asking numbers are still negotiable.

so I'm currently negotiating a possible deal with a ms who's  getting old and wants to leave the wife with something so here it is a duplex 2bd 1bth both units occupied with brand new leases.

The investor coming in won't have much to negotiate with.

Did I negotiate or calculate the numbers right?

The seller's mortgage isn't really your issue, if you negotiate 4.5% with the seller with a payment of $450, then you pay $450 and they are responsible for the rest.  

You could raise the rent for your wear and tear, explain why, come to a negotiation. on the bad side, your next tenant might be a nightmare.

(Negotiable based on borrower experience)- Execute Joint Venture Agreement- Profit will be split based on deal and level of experience of borrower- Agreement term is for 6 months, after which, borrower profit split is reduced to 50% and I assume management of the project.Does this sound reasonable?

I am in negotiations on a duplex in my town currently.

It's currently renting right now and I think I might be able to negotiate them down to $35k.