That doesn't seem like money well spent unless I'm planning to earn $60k or so on each deal.And I guess my question boils down to: ARE people succeeding with direct mail in Northern Virginia? 

Let's not assume you must take a hit on your credit until we explore some options.  

The issue is that what might be drafted and presented in making a deal can be totally different as how it is presented to an attorney, what was said above hits smack center of predatory, unethical and illegal dealings. 

LOL.. nothing more than lending guruism.But with all the talk of no money down real estate from BP, to late night TV blah blah blah.. these folks I am sure get a lot of hits and make a very sizable amount of money on the turn downs.you hit the nail on the head with these folks in my personal opinion as a HML and from a HML perspective.

At some point creative stuff ends and you'll need to hit the conventional side.

Sachal:While Arizona and some of the other states were hardest hit in the "bust" a few years back, the market here in Arizona has bounced back and become very robust - it's especially fertile ground for investment properties.  

Dana hit on a lot of important points, the vacancy assumptions of 5% for a vacation rental are unrealistic, HOA or maintenance on SFR are incredibly low.  

An entrepreneur that started with Real estate in focusing on unwanted real estate in Northern, New Jersey. 

@Ned Carey hit it right out the box with what he said.  

IF your flip does not work out like you plan, if you run into unforeseen problems (see Occupants from Hell thread), if the rehab takes longer or if it does not sell or your market sees a steep decline in value the you get hit twice.First your investment property does not pay off as planned and second your LOC lender keeps calling and asking for additional or larger payments ... or worse, forecloses on your personal residence to make good on the LOC at a time when the value of your residence and your investment property are low (underwater).If lenders require additional equity in your investment property, look for another lender that will make a higher LTV loan OR look for someone who will partner with you on your investment property.Good Luck