But I am trying to keep an eye on the market.Down payment is doable wish cash that I saved and partnering with my mother-in-law.

You can get cashflow from more expensive props (like what you're looking at) with enough of a down payment.

How do i collect payment on this?

I know I can pay cash, but I don't want to use that money because I can use this for other down payments on future purchases.

We had built up about 40k in reserves to handle the Down payment and rehab, most of which is now gone.

These low down payments will still have mortgage insurance.

I started investing in real estate when I bought a duplex in my home state of New Jersey using some inheritance money that my grandma left me as a down payment.

A follow up to the second question, I was thinking blank envelopes but it sounds like you are branding your envelopes with some form of print and then using a different source to actually label them with individual lead information prior to mailing.  

My plan is to continue to save for a down payment and in approx. ten months purchase my first home.

He is willing to pay the 20% down payment most banks would require, but I doubt a bank is going to want to touch this offer.