My most successful marketing has come from neither of those.
What I did was buy a roll of a 1,000 custom 5" x 3.5" stickers that read Avoid Foreclosure & Save Your Credit! We Buy Houses! Any Condition, Situation or Location... Then it includes a QR Code, my phone number and website. I took these stickers and placed them at gas stations on every pump. Think about how many people pump gas daily and then think about how long a person stands there waiting for the gas to finishing pumping. Plus the gas stations have any from 8-32 pumps and you will have 1,000 stickers for only $100. This would be better for you to try.
Direct mail, you will pay about $700-$1,500 to mail to a list of about 300 people 20 will call you, 15 will have unrealistic expectations 4 will be short sales 1 will be a deal but surely something will be wrong(too many repairs, war zones, listed, etc) or you may close the deal but you will make about $2,500-$5,000 and have to pump that back into another mailing champagne.
Craigslist, I still use since it is free but you have to be on top of it in order for it to work. There are times of the day and month were you will see better results. At the end of the month about the last week and posting from about 7:00am-9:00am and 5:00pm-9:00pm. I use to hate it because you do get a lot of spam the solution, post anonymous, don't write you email any were in the ad(only telephone number). I use many different ads, links, and pictures etc.. I have found that write a clear ad of what you are looking will prevent tire kickers from posting. Lately I have been lazy make simple ads that say;
Avoid Foreclosure & Save Your Credit
We Buy Houses Cash or Term!
Realtor Can't Sell? Time For Plan B
Sell Me Your Debt!!!
Then when you open it it has a screen shot of my squeeze page form or a simple hyper link to my site LakelandSellFaster.webstarts.com
Keep it simple and in expensive... FYI Bandit signs Suck expensive considering they won't even last 2 days on the street