You're talking about conventional deals, not auction purchases.If it does sell at auction, and you're there, approach the buyer and express your interest.

Btw, just to give you an idea of prices you can find, we have two local suppliers who can do a whole kitchen (cabinets, laminate countertops, delivery and installation) for between $2800-3500.

Do I mail a letter to the owner expressing my interest in purchasing their house?

I've discussed with banks, but none so far have expressed interest in getting involved, but I'll keep searching.To Will's earlier point, pursuing another private investor with more reasonable terms to do the deal seems like a pretty good solution as well.

In fact you don't even have to be there if you are the buyer or seller, papers can be signed in advance or express mailed.

It is the rate at which a property's income is being capitalized expressed as a percentage of the purchase price of the property.It is a ratio used to compare one property against another, and should not be used as the sole factor in determining whether a property should be purchased.Mathematically, it is defined by the equation:Net Operating Income / Purchase price (or Estimated Value).Since NOI is cash flow, your cap rate will have a direct relationship to cash flow.

Another related topic is how to express that mine would be a time-sensitive offer as some think its a standing offer and they can shop around and get back at ones convenience.

I'm interested to see what other folks say here, because my dad has also expressed interest in investing through us.I think it's important to consider what you both want and find the win win.  

I just think the delivery could have been more pleasant in the first comment. 

My agent sent the buyers agent a copy on the 16th (following day).In the meantime, a previous party has expressed interest in the property and upped their offer enough to get my attention.Here's where it gets interesting.