Of the other 60%, about half get sold to a retail buyer and we collect a small referral fee and the other half end up getting foreclosed on.So, the math gets a bit more complex than just responses and conversions.I'm guessing that you'd also likely find different profit levels from these two example groups above (absentee owners and short sale candidates), not to mention variation based on location, types of property, amount of rehab, exit strategy, etc.And that doesn't even touch on the other target groups you might mail to (homeowners with equity, NOD, purchasing redemption rights, etc).So, yes, using statistical averages to determine how many letters to send and how much you should expect to make from a particular mailing (or set of mailings) is a great thing.

You collect the fee, they step into your shoes and become the buyer on the original contract.In a more complex transaction, you "double close".

I am currently living in an apartment complex/house (not sure how to refer to it) that is situated like a dorm.

Say your going to buy an apartment complex.

Eventually, once I am confident in my own abilities to close deals and run these properties, I would like to get into the multi-unit complexes.

I currently own 2 college rental homes in Wisconsin (where I'm from), and one four unit apartment complex here in Kansas.

Im interested in investing in multi and single family homes and if things go my way eventually an  apartment complex.

My intent is to self manage a small complex.

@Jay Hinrichs, And now Menlo Park apartment complexes have been selling over $800k per door.

What if they build a low income housing complex down the street and your value plummets ?