@Mark Brazier  Great Question  @Michael Smith  in our funky staty of Orygun .. if your trying to start a LLC or Corp.. and register it in the state.. any reference to capital lending etc. you will need to give a detailed description of your business and or business model and have it approved by the division of finance and corp securities...

I chose to put a hold on College because i didn't see how it fit into my core business model of becoming a real estate investor.  

Is it a California regulation, or perhaps a looser model that the crowdfunders might look to?

I still think you should think through the model you are exploring in your head, or at least roll over to a solo 401(k) so you can legally lend to yourself.

This seems a little bit more suited towards Aaron's business model then the OP's business model.

In the long term, quality matters more than quantity too IMO ... even if you have great cash flow on paper but the property value and rents are going down over time when inflation adjusted, then it will likely be difficult to collect that cash flow in those type markets in the short term while you are losing purchasing power over the long haul ... that business model is more like leasing a used car than it is REI in my opinion, which is not to say that you can't make money but it is a vastly different and less passive business model. 

You are asking many, many questions that are strategic, not tactical.Divide you activities into:1) List building 2) List segmentation3) Lead generation4) Sales funnels5) Prospect nurturing 6) Negotiation7) Acquisition closing This may not be exactly the  model that you use however you will need to separate activities and understand where you are in the sales process at any given time.Regarding sales letters, I suggest only one way from them to respond, and that's by phone.

I'm leaning on the house hacking model to start as I would like to find a duplex and owner occupy, renting the 2nd unit. 

I modeled mine off of other sites owned by people that I know to be successful.  

I am a recent President of Northwest REIA but have changed my model to investing in promissory notes.