You're off to an amazing start, the hardest part is securing that first deal and it seems you are on your way congrats!

As a seller I'd want a higher down payment, a higher interest rate, etc. something for taking on the risk of lending to a sub-prime borrower. 

I'd use USPS Bulk Mail Services - they offer lower rates than first-class mail for sending large volumes.

If not I'd give them nothing...it's no different than if your neighbor started building tomorrow and it was near their unit but on another parcel.

We have some equity lined up before going under contact, but figured I'd make a post and see if this would be of interest to the community.

I'd say sure, I'll take that $ if I stil retain my 5%. 

They are not typically designed to create a profit for the person running it, although frequently that person does well on the deals that come through the REIA's membership.

@Randy Ivey I'd start with running some numbers and figure out if what you're expecting in rental income is going to result in cashflow.

Bay area home I'd keep til retirement.

@Eric DeNardo Definitely possible, but the hardest part is the buy part, there are plenty of wholesalers around ton spending tens of thousands of dollars on marketing to get off market deals, and that's the competition to get those deals, not impossible, but definitely tougher for the average investor that doesn't have the time.