Make sure your agent has a firm hold on generating off-market deals that align with your personality, preference, reserves, and ability. 

@Brett K. leads a BP investor group 

That really helps because it leads to some other gray areas I had about the process. 

Who is going to manage the properties and generate tax statements?

However I wouldn't mind trying it out to generate more income on a part time basis, while I'm still studying/reading real estate investing books.

You may get a few dead leads and unqualified people but how many can depend on a variety of things (location, rent amount, listing description, etc.).To effectively screen prospective tenants, you can/should ask for W-2 forms, recent pay stubs, employment verification, landlord referral letters, and conduct a background check on them as well.

Preforeclosure leads?

Your mail piece is designed for one purpose, and that purpose is to generate a phone call. 

The millennial generation wants convenience and are willing to pay for it.

Especially interested in multi-family properties that can generate reliable cash flow.