I have had great results with letters, while postcards have not proven to be fruitful.  

I will also use a proven property manager I know who charges 10% rent and first months rent with a new tenant.

I look forward to the day that my experience and knowledge allow me to recognize a good deal quickly.  

It's another tool, it's another utility, and coming in here as a newbie I recognize that.

I was able to do that because I recognized that vacation rentals are part of the hospitality industry, more than they are a part of the real estate industry, and that I needed to operate that business as a professional hospitality enterprise.

It is like anything else where you have to take the good with the bad and just be careful.The common thread you should be recognizing in all the responses so far is that you have to have a good team on the ground.

If for wealth, hasn't the Bay Area been proven to be one of the most profitable markets in America?  

You will start to recognize what normal retail prices are for houses in different parts of your market.  

You just need to have someone that knows how to talk to listing agents and recognize opportunities.Again, I'm not sure what other agents advertise for services, but these are things we do and what I would look for in an agent.

This has proven to be a challenging process so far