I've reached out to my sphere of influence, done direct mailings and trying to do cold calls.

Running practice numbers and researching will give you more confidence.Do not let others influence you without running your own numbers and getting out there and looking for deals.Read the book "Acres of Diamonds".

In the long run it can actually boost appreciation because supply is so limited.

Hi Will,Yes, about 7 factors influence cap rates and two are the ones you hear most about and that is interest rates and supply / demand for the asset. 

I think it would be appropriate to lay out my long term goals, as that influences how I begin my real estate journey.- Replace my monthly W2 income with passive real estate income- Pay off my parents mortgage- Have $1,000,000 net worth (what a small minded goal right lol)- Employ at least 3 family members with my property management firm- Eventually retire from a W2 job and become a full time real estate investorMy options for my first property are:1.

Apartment brokers will surely be stepping up their aggressive calls to apartment owners to amp up this new ordinance to boost their commissions and listing inventory. 

Looks like appraisals are influenced by the sale price of subject property.

Or were there other benchmarks - knowledge, experience, network of REI, etc - that influenced your decision and timeline?

You are trying to influence an outcome (get an appointment to view/value the home) not just make conversation.

You Save the relationship with the seller and you boost your reputation as an investor.