How do you approach them, what do you offer, etc?  

There is a ton of different ways that you can approach investing.

I recommend a hands on approach.

@Joe Bob-have you approached the tenant about buying the property?

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation before you engage.One way to approach this is to look for investments with professional administration.

I like the umbrella policy approach because it allows me to do a cash out refinance on the 2 properties without having to get a commercial loan like you would under an LLC.

What type of lists are you mailing and what is your targeted approach? 

My life has been turned upside down for 3 months, and you should have approached me about a reduction as soon as you knew the job would be crawling along, and that neither I or any tenant should have to shoulder this ongoing nonsense."  

You'll be able to pull out equity tax free, and then extra tax write offs with the interest paid on the properties.A more conservative approach that I have favored in the past as well is to get a HELOC on the property.

@Juhi Banerjee, appraisers for 2-4 units will use the same valuation methods as a single family home: Sales comparison, Income and Cost approach, with a reconciliation section to account for the variances.