For example, encapsulation as a technique to remove lead is 100% legal in Massachusetts: What is Encapsulation?

Currently the crawlspace is unconditioned but I'm going to encapsulate it.I'm thinking I should bite the bullet and just replace almost every bit of plumbing in the house right now rather than close up the wall and wait for something to break, especially since I'm putting nice tile in the bathroom.So here goes:1. 

You need to be authorized to encapsulate, in which there is a process...but paint is not an encapsulant.  

That's true BECAUSE the crawl space/basements are never lined/encapsulated and dehumidified.  

When it is time to replace, merely install siding over it to encapsulate the asbestos.

Two sayings that completely encapsulate being a landlord; 'hope for the best and plan for the worst'. 

@Andrew Tetrick why not just encapsulate it instead of removing it? 

Asbestos flooring and insulation, however, must be encapsulated (at minimum) or mitigated (which is scary expensive).

Paint over using lead encapsulation paintSeems that option 3 is the most cost effective, but I'm wondering if you get dinged at sale time due to property not being classifiable as "lead free" with the encapsulation paint, and the trim looking dingy due to many layers of paint.

Rhode Island has a fairly common sense approach to the issue and lots of information for landlords on lead mitigation techniques that they consider acceptable besides the full removal or encapsulation of all lead paint.