Since you only intend to do one deal at a time (now) understand the job job of your mail piece: it's ONLY job should be to get the prospect to take the next action step, such as call you, write you, go to a website or landing page, etc.There are so many factors to consider. 500 mail pieces is statistically too small to really derive any actionable feedback.

"you never have to regret what you don't say or write"

As long as they are balanced (depending on your ideal mix), we will keep them forever, or 1031 to another bunch to use the tax write off as long as we can - then pass them to kids with step up basis when we kick the can.We use PM so it's paperwork, regular check in with PM, and once in a while city visit.

When the writing on the wall is "this is a great investment option" and people start flocking to it then it is time to pull back and watch the fun.

Even if you write checks to Contractors, you can still make more return on investment than an IRA or other "boring" and  "safe"  retirement accounts.Many people are happy to have their employer match their retirement funds and then wait decades for the money to grow enough to retire or go on an extended Vacation.One of my longer term goals is to be able to take a 3-4 month long Vacation.I do ask what some of my non REI friends long term goals are and most just say to retire by 67.    

Again the deal should be thoroughly analyzed for cost and risk factors but can really help you decide the price you should pay today for the cash stream.My style of investing is focused on a balance between cash flow and debt repayment.

Don't overpay and don't buy just for the sake of buying, but keep in mind how much money you could be saving in tax write-offs and equity build-up.

Write all your questions down and start making phone calls.  

Since then I have flipped one property with my mom and are writing an offer for the next property.

Now since we have the first one under our belt I know that we will get the next one done much faster and do more work ourselves.We are writing an offer on a house on the same street and hopefully they will come to an agreement with us and we can get to work!!!!