Also are these fully amortized or interest only with a balloon payment down the line?

Then you have to decide if you are ok with a Real Estate Contract or Note and Deed of Trust.I'd get a letter of intent to the seller.  

This would be for a very short term of 3 years maybe.Is it fully amortized and does it include/require down payment and/or balloon payment?

Don't the buyers have to submit a loan approval letter with the offer?

I did visit the website and I did send in my info with the quick letter at the bottom.

Local credit unions and community banks are most likely going to be your best source of this commercial/portfolio financing when you've exhausted all of your Fannie/Freddie money or you can use them both and in conjunction depending on your preferences.In my experience local commercial money is usually around 1.0 pt in cost to originate with rates around 4.99-6.50% with 5-10 year terms which balloon thereafter and amortization can be found anywhere from 15-30 years, with most being around 20-25 years.

I feel like I've got the basic idea down about as good as one can without actually doing it.Before I actually get out there and send the letters, there are some specifics I would like to talk to an experienced wholesaler about.  

For example, the folks at YellowLetters.com and Yellow Letters Complete can both pull lead lists for you. 

Simple - - send registered letter to the new location marked ADDRESSEE ONLY.Don't seek shortcuts, you'll only cut off your own nose.

Very much by the letter and oftentimes unrealistic. so you do have to be careful when buying for the purpose of that CO.