Hello, I also purchase the Landlord Forms for Michigan and although the lease agreement references the Lead Based Paint disclosures, there was no LDP disclosure included in the package. 

I have followed up with a couple leads I have received from realtors but no dice yet.   

Consider working with a list broker rather than a "website" to get your seller leads.

I just had to have a contractor take a "lead certification" class yesterday as he was not aware the bank will ask for that certification. 

All this does is tell the lead who you are and why you are calling.

Now, let me say, obviously, it doesn't happen like this on every deal and I had a list of buyers I've cultivated over 3 years so it helps to have real buyers in place BUT still its nice to know you're in a business that can generate that kind of cash that quickly. 

The other potential downside I've had someone bring up is that when I go to get a loan to do another rental property it will look bad on me as a property manager and investor because I have a property with negative cash flow leading the bank to believe I am incapable of managing properties and likely to default on my loan.

I've decided that direct mail marketing isn't yielding the results I need and I've decided I want to skip trace my pre-foreclosure leads and call them directly.

Granted this is a deferred tax strategy vs an optimization strategy, but the end effect is pretty similar if you plan to expand your rental portfolio in the future and pass on to later generations.  

Personally, I think it will just lead to a hassle down the road, and landlord/tenant relationships should (in my opinion) always be nothing but business.