New to Cold calling

[Vitaliy Zima]

Hello!

I am a complete newbie to the idea of cold calling and I'm here trying to get an understanding behind it. I always hear bigger pockets podcast saying it's one of the best ways to land a property. 

Can someone explain to me why cold calling is a great way to land a property vs traditional way of buying through mls? 
Do you land better deals by cold calling and buying property that way? If so, how much under market value do you try to buy? If I am buying in an area where let's say a home sells for $150/sq ft, for a 3bed 2 bath, how much should I be trying to purchase it for? 

I currently own a small portfolio of homes and would like to dedicate some time daily to cold calling to try to land a deal but would like to understand how to do this correctly. Also, the markets I would target would be 12+hr car ride for me. So if I do get someone who is interested and wants to show me the property, what would be my next step? Any guidance to how to get started would be very much appreciated so I know what to look for and how to pitch correctly! 

 thanks!