So, in a hot market the seller will look first for a cash buyer with no financing contingency, second for a buyer with approved financing from a conventional lender, third from a buyer who has been qualified by a mortgage broker, and last, i at all from a buyer with a POF from a hard money lender.Of course not all sellers, or the brokers representing them are sophisticated, so if you make enough offers you WILL get some sellers that accept you POF letter.Just to show you how meaningless these POF letters from hard money lenders really are, about 8 years ago a number of lenders published a generic POF on their websites, and told potential borrowers to download the letters, fill in the blanks, and they had an instant proof of funds.  

Is there a website or a resource that provides operating cost and rental income for multi family homes to help an out of state investor decide if this is a good area, and if the props are worth taking a deeper look at?

Who should I speak with on contract usage, do I need a lawyer involved, can I put everything thats being asked for on one contract, and what websites would I use to get clear info on if anything is owed on this property??

It is always best to include a website and a local phone number on the postcards as well to maximize your responses.

While I'm saving a large amount of cash from each paycheck, it is frustrating to pass up on a good deal because you are not financially ready.

I once lived in a studio in a large apt building in NYC with electric included, but paid for my cooking gas.

@William Lucy an option you can look to use is a crowdfunding website.

Ardmore, on the other hand, is a bit more of an isolated city in that there are not a whole lot of cities in that area with large populations.

You as well Dave, I reached out through BP and your website for add'l info.

The LLC owns nothing and really does nothing aside from be a single number, website, address, and name on an office door that any of my tenants can contact.