I was all into this type of marketing, but I received my first response, and I may already have a deal in the works.

Yet, the mailbox money they do receive isn't enough?

I personally know, I had a family member go into default on there home, they received debt forgiveness on their second mortgage and a non-recourse short sale on their first mortgage.

There's a lot of paperwork and lots of text on the realtor board forms here.

If you bid and say that they can hold your bid, they will notify you when they receive other bids, so you can still see if there is a lot of action on a specific property. 

With some contracts even if you sent it but have not been provided conformation that they received it you can send another document cancelling the agreement.Really at this point you definitely need an attorney to see what you have signed or not signed and what has official acceptance and how you might get out of it or renegotiate the deal.No legal advice.

Now in your case, you'll be living in one of the units, so you need to subtract back out the rent that you could have received for the one unit you are living in.

Phone, email, text, mail?

Ali Boone,A friend of mine purchased a Condo, at the height of the Market, on the West Coast of Florida.As part of the deal, it came with a tenant with a one year lease.After the year had passed, my friend stopped receiving the "guaranteed" rent.The developer took that tenant and put them in another Condo,and sold that Condo with the same guarantee.My friend had to find another tenant, and because the rental market had collapsed, she had to drop the rent.

Most will give you credit for the bonus income so long as you have consistently received it over the last 2 years and that its likely to continue.As far as getting pre-approved via a credit union or a bank, keep in mind that credit unions are regulated much differently than banks and mortgage bankers, so they typically dont have the depth of programs and cant go to as high of an LTV on the purchase as a bank or mortgage banker / broker can.As far as 4 units being tougher to finance.