Bryan, the key in direct marketing deals per pieces mailed is "motivation".  

After all, I enjoy getting checks monthly - but it would nice to cash in a fat check once in while too.Question 2 - Networking is key to finding good deals - MLS can have some good deals periodically - but the best deals are going to come from a distressed situation that you find out about through word of mouth - and that means staying in front of your network and growing it so that you are exposed to new situations and opportunities.

If you have the cash and cooperative tenants, you can  exchange "cash for keys" and instantly build equity.

I would say to sell retail just because I don't know of an investor market thats buying turn-key vacation rentals.  

The key is "equitable interest"...as in, you can't market a property you don't have "equitable interest" in without a license. 

Responsiveness is key!!!  

For example, you set up key word alerts. http://www.biggerpockets.com/alerts

Maybe think about Elk River, Anoka, Coon Rapids, etc...Is your plan to buy turn key rentals or distressed property that you need to fix up?

The real key is whether you're handyman and/or other trade guys (hvac, plumber) will travel that far.What you don't want to do is have different trade guys for different areas you're homes are in - if you can avoid it that is.  

What are the key documents and pieces of information that should be sent to an investor client?