If the latter, we follow up by mailing them an "Adverse Action Notice" as required by our state.

There are 2 camps basic camps of naysayers; 1) those who are risk adverse, 2) those who are jealous.  

Probably the first thing you will think of is adverse possession. 

Once we offer to rent the unit to the winning candidate and they accept our offer, we notify the unsuccessful applicants and return their application fees.Anytime a person has applied and paid an application fee, if we reject them or approve them with additional conditions, we send them an "Adverse Action Notice" that explains in general terms why we rejected them or what additional conditions must be met for us to accept them.

If they weren't denied based on credit, then no....The FCRA does not limit adverse action letters to credit - it requires adverse action letters whenever an adverse decision was based on information obtained from a third party reporting service.

You can do the grind for a few years as the operator but over time it will wear you down and have adverse effects on quality of life.

Some varieties of mold are toxic and may cause adverse reactions in certain individuals.Landlord’s Disclosure (initial)(A)Presence of mold and/or moisture hazards (initial one below):______ Landlord is aware of present or past mold and/or moisture hazards in the housing unit.

Of course this is assuming the market cooperates and no adverse cycle throws the train off of the tracks. 

If you are risk adverse real estate, (especially out of state) is not for you.

Accordingly, so long as the adverse claim lies dormant and inactive, the owner of the superior title may allow it to stand indefinitely.