Al Franken recently encapsulated the issue by saying: "I am not going to Washington to be the 60th democratic senator.

The obvious problem in this scenario will be the capital improvements necessary to get the remaining three units rent ready - if you are a lessee, I don't want you making capital improvements to my property ... unless they are encapsulated as a leasehold improvement under a separate agreement.  

Actually, the ceiling being painted (especially if it was spray painted) would make the ceiling even safer because if there is asbestos in the popcorn it becomes encapsulated in the paint. 

Before then whites were encapsulated in appreciating neighborhoods with good schools.

"It's safe now, encapsulated," but "the remediation team" had to "seal" the ceiling access hatch and "you can't go up there."

Now if you just have an older property that you suspect has lead based paint somewhere, it is quite easy to paint over that paint and effectively encapsulate it. 

A 6 mil vapor barrier and floating floor would be sufficient for encapsulation in my world.

Apparently what amounts to a few words by me in this thread encapsulates my entire knowledge on a subject according to you.

It allows you to enter the address of the property anywhere in the USA, and provides you and index score that encapsulates the relative risk of that property location.

One of the bigger marketing companies that sells for many TK operators that's their pitch they insist tenant in place. however a big caveat is that when you ( investor) is participating in the rehab phase this leads to other sets of issues, and starts to move away from the encapsulated TK approach were everything is done for you at time of purchase... the companies I speak of are also teeing these up for hedge fund buyers.