Looking at property that is a 4 br 1.5 bath and listd for 39k but in the description it says possable LEAD BASE PAINT is that really expensive to paint over or do you need to re-sheet rock the whole house… 
thanks
ARV should be around 70k to 90k and if at 90k and using the 70% i would have about 63k to work with (63k-39k=24k) 24k minus repairs could be a good deal depending on the lead based paint dalima.
Howdy Islander:
Check back a few pages. There is all sorts of posts about lead based paint to add some more to your question. The lead is usually in the trim paint and not the wall paint. It is usually not that big a deal. If it is the original trim paint all you need to do is prime with a lacquer or oil base primer and then paint with latex paint. If the paint is flaking you need to wear a mask and sand the areas. Collect the droppings and seal in a bag and dispose of properly. A professional painter can help you or your local paint store.
In addition to what TedJr has (correctly) stated, ALL properties built before 1978 have the POSSIBILITY of LBP. Disclosure of such during sales AND the rental process is mandatory!
Keith
Thanks, Yes I remember someone talking about LBP but I couldn’t find it or I over looked it…Once again Thanks
Rick