This is rather time consuming.

I believe that a professional written letter with a request to purchase real estate, with added credentials (license, bonded, with the BBB, references and some background information about yourself will be more respected than a hand written note on yellow paper, the consumers today are very smart) I don't (I am often wrong) think they are going to get excited by a yellow letter.It is my opinion if you want to find deals, forget the mailings, get out on the street and start to meet people who want to sell their properties; for sale by owners, expired listings, internet leads, farm an area, talk to people, run ads, folks in tax sale or mortgage foreclosure. 

It feels slow and too time consuming for me.   

In RI it looks like it is by city and providence is one of the cities that has it but you probably wont live there forever so consider that.  

I have been searching for this exact answer forever you just made my life so much clearer!!!!!  

DefaultHaving followed the terms of the Consumer Credit Code,1995 I may demand repayment if any of the following happen (defaults):i) If you fail to pay any money you owe me on the date it is due and this failure lasts for more than 21 days after I have written to tell you that the amount is overdue.ii) If you break any of the terms and conditions of this agreement and you do not resolve the position within 14 days after I have written to tell you to do so.iii) If you or your guarantor die or do something which could lead to bankruptcy or if your guarantor serves me with a notice that he or she will no longer act as your guarantoriv) If any information supplied for or by you in application for the credit facility was false, misleading or inaccurate.v) If you do not provide me with the security within 10 days after I have written to ask you for it or within any extra time I may allow; if the security is also security for other money you owe me (or any of our subsidiaries) and the security becomes enforceable to pay any of the other money.7.

Lawsuits, whether won or lost, are time consuming, stressful, etc.

I would like to do multiple flips a year by hiring someone to do some of the more time consuming work.I think my partner and I are on a different page and may not been staying together after this flip.  

Or is it stuck with that certain property forever?

From what I know, the processor becoming an agent is not very time consuming and there is a flexible schedule when you are an agent.