(lower spread, lower conversion.)Moral of the story... both leads hold their place, but probates should definitely be a big focus, and a beginning focus, along with perfecting your systems and your actual DM piece.Here's a ROUGH breakdown of the last 6 months of deals comparing the 2 lead sources (just to give you an idea):Probate:Mailing 4,000 leads/month (6 months) (total mailed 24,000)-12-14 deals (240 leads roughly)-average assignment: $17,500 (our sales team is top tier)Absentee:Mailing 40,000 leads/month (6 months) (total mailed 240,000)-70-80 deals (thousands of leads...2400+)-average assignment: $9,500These are again, rough numbers, but paint the picture with the KPIs that I was able to track...Let me know if there's any questions, I feel as if this topic is very under discussed and I would like to spread some of what I have learned.

For example, a private lender who wants to invest in a deal JVs with someone who has the deal and the track record and expertise to put the deal together.

For example, if you own and are actively involved in managing 20 units, would that suffice without tracking hours?

In short, they know the proverbial "right vs. wrong" side of the tracks. 

I'm exploring ways to track this information however, the referral tracking software seems to start at around $60/month. 

Don't even try to now back track with 20K 30k 40k numbers to try to manipulate a point.

The good deals usually go really quick and a good investment agent can analyze and get you on the right track quickly and professionally. 

You have to track him down in person from what I've been told.

Bottom line is its not a fast track to get started, you still have to put in all the work and you'll be 30k in the hole getting started.

I do my homework so please only turnkey providers with a good track record.By the way thank you @Nathan G. for that great checklist