My biggest concern is this: you are not contacting the home owners with enough frequency. To establish your name and build market share, you need to contact (mail) your farm at least twice per month. After you built your market share to the level you want it, you can pull back to once per month.
I like the idea of targeting the NEW condo complex. Lots of turn over happens in the first 18-24 months in new construction.
Not crazy about the newsletter. It needs to be either branded with a lot more YOU or unbranded with nothing but condo info and offers. You can really customize it to the condo complex. “The ____ Condo Report.”
I recommend you create your own newsletter, flyer, postcard, etc. You can test different offers and different approaches.
If you are aggressive, I recommend you mail two pieces a month and take over the complex. Mail 1 branded piece per month and 1 unbranded (stealth) piece per month.
As a general rule, condos are great for farming because they usually have a higher turn-over rate than houses.
Good luck with the farm!
-Mike