I don't think there is anything wrong or unethical with that approach.

You're going to need to change your approach or you'll find yourself standing in the same place a year from now. 

Can someone give me an example of how to approach owners of surplus funds owed?

There are countless others, and the best route depends on your personal giftings, opportunities, and availability.

Getting your first rehab project will require you to create a SOW, talk to contractors, compare and review bid proposals, review budgets, & make countless trips to Home Depot.​You will inevitably make mistakes and underestimate things, but you will learn 90% of what you know by just doing your first rehab!

Try a variety of marketing approaches and track the results. 

Anyone has the most expansive EASY access of information, resources and networks imaginable so those people are connecting with countless professionals all happy to help them get their FULL VALUE POTENTIAL and here you come, with a mailer, and than say "hey, this dosn't make me enough profit, you need to accept $50k less than what everyone else will pay you so I can make as much $ as I want".

Depending on what you are trying to do, you have to use different approaches.  

Does anyone have any suggestions on how to approach this situation?

It's normally good practice to manage your rental property finances separate from your personal finances, so that's how I'd approach it.