REO's or Marketing for Motivated Sellers? - What is best method to wholesale?

I started my TV Campaign this month. I am working with a budget of $700 for the commercials (enough for 18 :30 sec. commercials, daytime during court shows (heard these typically pull well) Also, told to run commercials the first 7 and last 7 days of the month. SO the first 7 days (9 Commercials) produced 6 calls. Unfortunately, 2 were in different states, 2 were in the same state (NC) but 1-2 hours distance away and 2 wanted retail.

Certainly the right call could come in at anytime, but here is my dilemma…I feel like $700 (plus $300 each month to LBYH) is a good amount, that would send out about 2000 postcards, or a combo of 200 or so bandit signs and 1500 postcards and some car magnets…

Thinking through this, my other thought is, should I just go to RE school ($450 one time cost) align with an investor friendly broker (I know one from the local REIA) hang my license for roughly $150/month after MLS fees and E&O and then make 15-20 offers a month on REO’s? I am looking to to wholesale only, not sub-2, shorts or anything like that…I want to keep things simple.

I am seeking counsel and would like to hear what others think. After reading Steve Cook’s Wholesaling for Quick Cash multiple times, I feel like being able to blast out 50-60 offers a month is a simpler approach if you are looking to wholesale. Certainly, if your forte is sub-2’s or LO’s you will need to be belly to belly with the seller.

Any comments will be greatly appreciated.