Once you read the explanation below, you will understand how REALLY bad things can be if you don't get the letters but go through with the purchase.First, the owner/seller should have a clause in the lease requiring tenants to sign (or object to in writing) tenant estoppel letters if presented to them.

My objective is to establish my network in the region prior to my arrival.

It all starts with a website and online presence.Let me know if you need step-by-step directions how to do this right.

We found this home through a combination of online tools and personal exploration in the area.

We found this home through a combination of online tools and personal exploration in the area.

I’d have a better picture by sitting down with someone at a bank, but I did a calculation online and the new loan on cashing out $130k would still be covered by the current rental payment.

The other half of the accounting records is coming from online purchases, utility payments, etc etc where they are sending you an email. 

If that's the case and you aren't viewing more properties in person than you are making spreadsheets on, you are destined for analysis paralysis.Spreadsheets can only tell you estimations based on numbers given to you online or by a real estate agent whose job is to sell the property.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

This is almost always the objective of plaintiff's counsel because of certainty of compensation.