Vocabulary
I have written all the vocabulary items from left to right, because that is the way the Egyptians usually wrote, and horizontally, because it fits more easily into the table.  You should try to  get used to recognizing words in various orientations.
 

	bAk	servant - More usually written  The feminine form was
	pr Dt	estate - Literally either "house of eternity," or "house of vast lands."
	nni	Neni - The name of the man writing the letter.  It is not a very complementary name, since it means "weak" or "lazy."
	Dd	say / says
	imy-r pr	steward - This means literally "he who is in the door of the house."  It is a common title.
	ii-ib	Iy-ib
	anx(.w) wDA(.w) snb(.w)	Life! Prosperity! Health!

Grammar

• The salutation is the opening of the letter like our "Dear Name," at the beginning of a letter.  In Egyptian, the salutation includes not only the name and titles of the person addressed, but also the name and titles of the sender.
• Normal word order for a sentence with a verb is [verb]-[subject]-[indirect object].  The indirect object is introduced by the preposition n, meaning "to" or "for."  So the normal order for this salutation would be:
Dd nni n ii-ib     Neni speaks to Iy-ib However, in a salutation the emphasis is on the person who sent the letter, so the subject is moved in front of the verb for emphasis.  So our actual greeting is: nni Dd n ii-ib        It is Neni who speaks to Iy-ib
• The Egyptians always addressed each other (at least in writing) giving at least an abbreviated version of their titles.  An inferior would certainly give the person addressed his full due of titles.  Neni, a mere "Servant of the Estate," is here writing to a superior, the "Steward."  The term imy-r corresponds to "overseer," "foreman," or "boss."  It is a common part of titles of common people with a certain amount of authority.
• Whenever a superior was addressed or referred to, the Egyptian would automatically add  which is an abbreviated writing for anx.w wDA.w snb.w, verb forms which express a wish.  The meaning is then, "May you (or he) live!  May you (or he) be prosperous!  May you (or he) be healthy!"  Egyptologists frequently write it in translations as "l.p.h."

And having got the salutation out of the way, Neni can now get on with the main part of the letter.