In my (limited) experience, the closer you get to the short sale, the less likely it is that a homeowner will be willing to engage a letter such as this.

READ part 5CRIME-FREE/DRUG-FREEADDENDUM HOUSING AGREEMENT In consideration of the agreement for housing the Owner and Agent and Resident agree as follows;1.Resident, any members of the resident’s household or a guest or other person under the resident’s control shall not engage in illegal activity, including drug-related illegal activity, on or near the said premises.

As you become more confident with the company you could set automatic budget limits. 

So let's see, for the duplex:$16K purchase + $20K rehab = $36KRents: $1300 * 12 * 50% = $7,800$7,800 / $36K = 21% cap rate If $20K was the total then it's 39% cap rate.Regardless of the scenario, I can say pretty confidently you're not going to pay $20K a door for a commerical multifamily property and get $1,300 a month (collected) in rent.Others can chime in they think it's a viable strategy.

I can confidently say there are plenty of great management firms in Atlanta that can fit your strategic needs.

Do you manage the enterprise yourself and/or engage a professional manager that you then manage?

If you are not confident in your own skills in title searching, then perhaps you should consider paying the nominal amount for a professional to perform a title search for you.

How do I feel confident enough to go get a deal?

Despite it being an extra cost in both time and potentially expense, I have found it a successful approach to engage with owners as well as one that can be outsourced.

The most important thing there is other than snuggling up to your significant other at night is the confidence and comfort you have in knowing you've got your cost of living under control.