Direct Mail Driving for Dollars

[Chris Payne]

Hi team, I'm hoping someone can help me out. If my questions have already been answered somewhere on BP, forgive me. 

I just started driving for dollars today. I identified 156 distressed properties in an old, but up-and-coming part of town. Should I just send out letters to all 156 properties or should I filter down further in some way (i.e. amount of equity; back taxes; absentee owner; etc)?

I'm trying to decide from a Return on Time/Investment standpoint.

Also, if I do multiple mailings, should each mailer be different (i.e. language, format)? If so, how?

Where can I find direct mail samples with the appropriate verbiage?