I have tailored the first message down to a few lines and emailed some realtors.

You want to tailor your numbers to your region, the age of the property and price point.

Most properties sell for above asking in our market but I've negotiated a lot in my life for jobs, friends, and deals so I use the negotiating techniques to get the deal.

@Lissette Deleon I forgot to mention a very important technique.

For Zillow inquiries I usually have a form response typed out that I copy and paste tailored to the prospect's info provided and questions.

Might end up being a great marketing technique to solicit properties for property management.Any input?

My old Boss would call this the "ready, fire, aim" technique;-)We had "Ask the Builders" last Tuesday (link in my signature below) @Ray H. has got it, proceed with caution.

RE and property management experience, but only recently began a second career as a serious investor using creative techniques.

As is typical of other gurus, LeGrand left out much of the disadvantages of the various techniques.

Your formula is a knock off of the income capitalization valuation technique (Value = Net Operating Expenses - Actual Cap Rate) but takes a turn for the worse when you use the "one size fits all" cap rate average.