Also, in order to make your margins you need to do a lot of the work yourself which is time consuming and risky when you start out and don't know what you are doing very well.

It's active work, they take a great deal of time and can be all consuming.

Run your mailings for 3 to 4 months before giving up, some studies show that a consumer needs to see your name at least 6 times for it to register as someone they know.And don't look for huge numbers if you're converting 1% you're doing exceptionally well.

pretty much par for the course over the years of landlording my only comment was you trying to garnish his wages.. that's time consuming and not always worth the effort. and many times rarely worth the effort.. next tenant will probably be better.

@Ron K. if it is likely that the average consumer would look at your marketing and be mislead with regard to your business purpose or offering then it is a risk. 

That's with another investor too, any tenant occupant will be a consumer transaction subject to Dodd-Frank and you're not selling your principal residence you're selling inventory as an investor/dealer.  

So I opted to accumulate wealth through acquisition of buy-holds.  

LESSON LEARNED - opt to have your offer kept as an alternative if the initially accepted offer doesn't work).

I'll have to keep a closer eye on them now.I will say that when I was managing them myself, my gains were significantly higher.It was far from passive though and just too time consuming without enough benefit for me personally.

So instead of going 5 yr ARM at 5% commercial loan we opted to get a line of credit against the property since we owned it free & clear until we had owned it long enough to please Fannie.