DIY REI doubles as exercise..

find out the whole plan... get a full understanding of how it will work and what Your role is and what their role is...  

Is there a way I can do the same exercise with a foreclosure lead?

Prior to exercising the lease option, I think you could do a "refi" or home equity, but that would have to be paid off before you "sold" him the house.

It is only fair that the rules of the contract are exercised. 

@Tony LindMike Jacka is the president of the MN REIA, and at our recent training on Subject To, he showed the legislation for the due on sale clause (Federal), and the State of MN law that forbids a bank from exercising this right.  

Welcome to Biggerpockets @Brian Gibbons, Ron LeGrand could helpLow investment(to get lease option), cash flow (while the tenant buyer is assessing neighborhood & preparing financing)and a back end profit (when tenant buyer exercises option) are the highlights

Dan, can you explain what your role would be in this transaction?  

Find a good real estate attorney.When your tenant / buyer exercises their option, the purchase contract should already be pre-filled, so there is little need to have a real estate agent then.

Another factor is that I am now also able to play a more active role in building my portfolio than I have in the past, time-wise.