Yes you can wholesale properties that have been on the MLS for months, those actually may be better because the seller will more than likely have a higher motivation to sell at a lower price. 

I got lucky (let me rephrase that...I strategically put myself in the way of luck) and found a motivated seller >> she was an out of state owner looking to wind down her portfolio, and had a property mgr on salary vs direct commissions, so there was no incentive to raise rents.

He did call me so he must have at least some motivation to sell or to find a way to get out of this bind he is in.

@Ryan Johnston appreciate it, motivated seller!

Keep finding those motivated sellers.

Those are more motivated, but smaller in quantity.3) I'd make sure I have all my ducks in a row for the surge of calls that are going to come from doing so much DM.

If you are motivated, and a self-starter then going straight into business will serve you well.  

Instructing an agent to do cold calls might not bring the results you seek because most people struggle with cold calls and do not have the skillset of learning how to listen for signs of distress and motivation. 

It depends how motivated they are to keep you as a client.My main advice here is that you are going to need to be a little ruthless when it comes to the real estate investing industry.

But I think you see why buying that little probably wouldn't result in a tax saving so no motivation for 1031.Buying 4 properties in the compressed time frames can seem daunting.