Direct mail to absentee owners may be a great idea, you just need to understand it is not magic, and will take a min of 6 touches to your list to possibly close a deal.

We will get there but just a process.A couple of other areas we have on a list to research are Oregon and Florida. 

Tax (listing claims ~$5900 annual, ~3%)$20 - Landscaping/Snow$284 - Vacancy (8%)$284 - Repairs (8%)$355 - CapEx (10%)$426 - Prop.

If you're buying lists and mailing yellow post cards, that can get pretty expensive.

Welome to BP @David Doheny,I would say other than those things you have listed, start talking to potential clients.

Taxes have been properly filed each year to account for the rental income, however the first house listed has not been shown on taxes yet because we do not file this year's until next April.  

They are doing a good job of training, but I want to find a book, site, forum, etc that covers the mechanics of all the paperwork from listing to closing.

I believe they have a list of dates that they meet on their website, tbreia.com. 

Is this valuable or should I stop building the list?

There are two ways to find cash buyers: 1) Get a list of houses that have sold with all cash from your local real estate agent for the neighborhood the house is in.