That’s the way to preserve the relationship and respect.

What are the implications of generating leads from a property preservation company that has access to REO properties?

Humans in general are forgetful and your mind is much more focused on preserving your property than even your best tenant. 

This way most things are covered, who is responsible for insurance, marketable title wording, septic inspections, type of financing, items included/excluded, utilities on/off, who owns a propane tank if there is one, gas and mineral rights, certificates of compliance/occupancy blah blahI of course would then ensure my clients interests are preserved with the right checks and a good number of days for contingencies that work in their best interest.

When preservation is of the essence, the IRR is not and yield is what it's about.

. - Generally, I wholeheartedly agree, but there are two things (three really) that are unique to Baltimore (at least I think they are unique to Baltimore)...1) Baltimore is very aggressive when it comes to historic preservation. 

You are probably not going to get a property manager in Atlanta at 10% fees, if you do there will be plenty of ala carte management fee's you will have to utilize to get the job done correctly and preserve your asset from Flagstaff. 

I thought perhaps I could put in a duplex or two instead, so less parking would be required and some of the green would be preserved.

Do you have existing capital you want to preserve and get a solid but safe return on?

It has become popular as a retreat from urban life and for its proximity to jobs, Toledo Express Airport, nature preserves, and the Turnpike.