It's penny wise pound foolish.

Or, could this turn out to be penny wise, pound foolish?

He sales his stake and the next guy comes out picks a spot hits the ground with his axe and finds the largest nugget of gold ever seen some 51 pounds of gold.

Pound the pavement and talk to people.  

I hate to over simplify, but "Pound the Pavement".

I do think there will be a second wave as the big boys sell off unwanted low value or otherwise distressed collateral assets from their portfolios. 

I have a background in construction, more on the management and finance side, but I have pounded more than a few nails in my day.I have always had a interest in Real Estate but have always put more energy into my family and career.

The only hang up is that I have a dog (25 pound dog).

I have been chasing my tail to get any of them to respond to letters with requests for information, tracking them down in person, Any ideas to get these tenants to sign a lease without coming off as a 300 pound gorilla?

This is not foolproof, but it can be pressurized with an air compressor at low pressure, about 50-60 pounds.