The amount of new construction in the area was interfering with my ability to get a good idea of both ARV and potential rent.

I tell everyone I know, if you want to accelerate the growth of your real estate business, you need to surround yourself with people who are doing great things in real estate.  

Things have since settled and the investments are bringing in nice monthly income.However, I can't help but get the feeling that while I was blessed to have the cash to own that it utterly kills my ability to buy more investments and there's probably a better way to do this than the way I've done it? 

Caveat: I have no idea what market you're in or looking at or your ability to assess rental properties, so all of this is contingent on whether you buy good investments or not. 

Hi All-I am starting a direct mail campaign targeting 2-4 unit propertiesMy Criteria for my list: 50%+ equityAbsentee Owner (in state + out of state)investor activity in area (determined by cash sales over the past year)10 year population growth in the targeted zip codegenerally affordable median home price in targeted zip codeStrategy:Handwriting letters in blue ink (roughly 280 letters)colorful envelopes to draw attention with standard postage stampsGoing to make the letters brief, but show some level of context related to the specific propertyMail every 2 months, for 5-6 roundsAny Advice?

My question is I have the ability to purchase one property  all cash and that would create positive cash flow obviously.

Plus you would likely have to increase your hazard/fire policy premium, and it may also increase your property taxes if the assessor drives by and sees those nice panels.If their desire is to "go green" regardless of paying more money, many area utilities will offer customers the ability to purchase some or all of their electricity from renewable sources. 

But median income is something you MUST take into account (along with another gazillion variables) when you purchase your properties,as it affects the sale-ability, how quickly and how $ profitable you can sell.  

If your local economy has bad population growth or bad future prospects, then it is risky to pay higher prices.

They’ll stick anyone with a bill.