Anything that you'd use in an informal communication is inappropriate for a business letter. This includes slang, text_speak, emojis, and anything off_color or casual. If you're used to communicating mostly with friends, family, or even co_workers you've worked with for a long time, an appropriate closing for a business letter will probably feel pretty stilted at first. Don't worry about it – your colleague or business associate won't feel that way when he or she reads your correspondence. What seems unnatural to you will feel respectful and polite to the recipient.
Sometimes a person's gender is unclear from a name _ names like "Corey" or "Blake," are both common women's and men's names. If that is the case, do some investigating to determine gender from searching on LinkedIn or a company website. But if it remains ambiguous, simply write out the person's full name, dropping the title. For example, "Dear Corey Meyer."