i...FHA letters: http://portal.hud.gov/hudportal/HUD?

And don't be silly, secure the debt by the property.EDIT: and if you don't want your borrower holding onto the funds for too long, toss a balloon payment in there.

Will you be paying 400/mo for a little over 10 years with no interest and no balloon payment?

I recently acquired a list of 300 absentee owner i will send letters to.

Letter arrived from a local real estate brokerage, addressed to "occupant" and "helpfully" advising her of her rights and offering to assist in exercising her Council given rights!  

Base your sales price on the appreciation, set the balloon payment up for 5 years down the road.  

They do still offer 30-year fixed rate loans at rates somewhat higher than what most banks offer 5- or 10-year balloon loans though.

The prices on the market are very high due to limited supply on the MLS and increased demand.My suggestions is to target a few neighborhoods and mail out letters to multifamily property owners.  

That's pretty common.Either provide it or get a letter from a HML

I'm going to keep searching, but the sellers around here wanted a 20 year amortization schedule, 8%, and 2, 3, or 8 year balloon.