Having done that I am now preparing my first mailing for motivated sellers.I wouldn't discourage you from door knocking, I think it can be a valuable learning experience, however I would have to agree with @Lynette Braun that "touching" the customer with mailings or social media prior to meeting with them is more in line with your long term success in this business.  

Motivation is key set the goals as high as you can! 

I get the concept of finding motivated sellers and investor buyers.  

Is there some other sort of agreement like a personal placement memorandum that is required? 

I want to build a list for marketing to motivated sellers of raw land.

There are many ways to get creative about the financing if you're motivated enough.

Or you might find a motivated seller and your first deal drops right in your lap because you used the cheapest marketing strategy of them all: networking.

You can work with agents or investors locating distressed properties, motivated sellers, and any other range of creative ways to get leads. 

everyone else thank you all so much for the welcomes. my biggest question i have as of right now is, when you have motivated sellers calling to inquire about selling you their property, what is the best way to determine how much to offer them for their house in AS IS condition??

It's a nice little motivational piece.