I use the same form letter each time.

My ultimate goal is to mix design and real estate investing, this included house flipping, designing unique rentals, and being a full time investor.

@Cory KerrIt might be state dependent, but if you accept any partial payments you need to have the tenant sign a reservation of rights letter.

We have a tenant that is accepting the letter we sent outlining the extensive damages she did.

Before my realtor listed it on the market, I presented to the tenants a letter of intent to sell my property to give them a heads up (top 2 levels and private basement apt rented to 2 diff tenants). 

A reasonable effort to arrange a face-to-face meeting with the mortgagor shall consist at a minimum of one letter sent to the mortgagor certified by the Postal Service as having been dispatched.

Your advice is sound and I am crafting letters as we speak.

Can anyone suggest an insurance company that is comfortable and used to insuring vacant soon-to-be-remodeled, mixed-use, older brick apartment building? 

@Joey Gorombey  Yes, in general you'll have to submit a pre-approval letter if making an offer. 

And, depending on the effective tax rate of the investor, the after-tax return on cash flow is almost always to some degree even lower.The simple fact is that larger multi-family properties (apartment buildings), mixed-use properties and retail buildings sell/trade at capitalization rates that offer investors’ greater yield assuming sufficient capital is available for investment.