There are lots of good tips on direct mail.I think 300 dollars in lists and mail might render you a deal, but it is very likely it wont.Another great podcast for direct mail is the http://therealdealzpodcast.com/You should listen to all of them before you pull the trigger, even on such small budget of 300 dollars.One thing I've learned is that you are better off doing a "drive for dollars campaign" and mailing people from that list instead of using the absentee owners list.

I almost pulled the trigger on a property yesterday, and then did a quick crime map search.

I can relate to Eric with the lost opportunity cost of not buying at all with regards to appreciation, tax benefits, cash flow, and having the tenants amortize down your principal balance.I assume your cashflow of 800 assumes you rent all units out and yeah perhaps you'll just break even for one year (recommended if you do VA you should file the first year's tax returns at the property so you're documented to be in compliance with VA primary).After you vacate the property you now have an asset producing income for you even if it's at market value when you bought it.It's all about managing your cash flows in good and in bad times so it depends on what your contingency plans are in the event a tenant moves out, you're at 75% occupancy, 50% occupancy, RE values drop and your over levered, etcUnique Dynamics of the VA Offer below:VA loans also have a:2.15% upfront financed VA funding fee (VAFF) if you put down 0%1.5% if you put down 5% or more1.25% if you put down 10% or moreIf its your second use you will have 3.3% VAFF if you put down 0%1.5 and 1.25% guidelines still apply for second use VAFFThe VA nonallowables are costs that the buyer is not allowed to pay so you'll have to strategically structure your offer so that it will be competitive with other buyers as well otherwise if the seller has to pay the below it may make your offer less attractive - FYI- escrow fee's or settlement/closing fee's- loan origination fee's other than points (underwriting, processing, etc)- doc prep fee's- application fee's charged up front for loan- pest inspection fee for your property- attorney fee's (if for other than title work)- assignment (if buying a loan or property assignment)- copying fee or email fee etc (lots more but those are the main ones)

The last thing I need is for something to gum up the trigger when I need to access funds to make a purchase.I will definitely read up on your outfit's offerings alongside all the others that I am looking at.Thanks again for chiming in and I'm sure I'll be "seeing" you around BP.Francis

Even where it can work, that does not dispel the need to comply with many state and federal compliance issues.

(A)provided under any State or Federal program that the Secretary determines is specifically designed and operated to assist elderly persons (as defined in the State or Federal program); or (B)intended for, and solely occupied by, persons 62 years of age or older; or (C) intended and operated for occupancy by persons 55 years of age or older, and-- (i) at least 80 percent of the occupied units are occupied by at least one person who is 55 years of age or older; (ii) the housing facility or community publishes and adheres to policies and procedures that demonstrate the intent required under this subparagraph; and (iii) the housing facility or community complies with rules issued by the Secretary for verification of occupancy, which shall-- (I) provide for verification by reliable surveys and affidavits; and (II) include examples of the types of policies and procedures relevant to a determination of compliance with the requirement of clause (ii).

It could trigger the 'due on sale' clause, but you should be OK if you're current on your loan.

I think I have found the first property I'm going to pull the trigger on but was hoping the Bigger Pockets community could give me some feedback if it looks good.

Expect to be tested at every turn by those types.Finally your rent might be too low and people think there is a hidden defect and so don't pull the trigger.

That is some good motivation for me as a new investor that has yet to pull the trigger.