Since you are not converting any, the economics part of the equation is moot (at least until you either solve the problem, run out of money or stop).The solution is to either increase your frequency of touches and narrow your message or choose a list that isn't so picked over.

If you use my PC that's a total of  1200 prospects responding which should equate to 10 deals which equal a 270,000 return.  

Remember, getting the phone to ring is only part of the equation. 

Keep in mind that the address given by Listsource is the address on file with the County Assessors office which equates to about a 8-10% of bad mailing addresses.

The typical equation is ARV x 70% - rehab and sales costs= max purchase price.

@Ryan Johnston  just chuckling a little on your post congrats on your success.but wholesaling and snagging other peoples equity is hard to say and equate it to being moral and Christian.If a wholesaler or anyone buying someones real estate actually tells the owner what its really worth and how they can maximize their return that I see as the Christian thing to do.going in and low balling NAH don't see that.. but as long as your good with it..

You're starting from the wrong end of the equation. 

Might help to look at things from a more creative side than technical steps as an equation, real estate is a science as well as an art, look to the art side

so for me to do what I do in Oregon I am a NMLS mortgage banker a Licensed Developer and a Licensed RE broker... and that equates to a bunch of CE each year etc.. but I am totally legal. :)

Must have the ARV part of the equation.