Baltimore SFRs Ground Rent and Lead Free Cert

[Annie Li]

Hello BP,

I'm negotiating a sales contract for a property located in 21229 area.  My focus is cash flow so I accept the fact that the neighborhood is below average (but not a war zone area).  The property is close to Edgewood St & Hilton Pkwy (south side of Gwynns Park).  It's 4-bed 2 bath with almost rent ready condition selling for $50K.  The seller doesn't have any info on lead paint; the property has ground rent of $150/year.

My questions are:

1. How much will that roughly cost to  have lead-free certified and how long will that usually take?  I can't seem to get a straight answer from several PM companies I spoke to.

2.  Is it worth to spend $3,100 to have ground rent removed at closing ($2,500 for the sale price, $350 for attorney, $250 for recording).

3. What do you think about this neighborhood overall and whether the listing price is reasonable.  I noticed there were some flips sold in the same block.

This is my first investment property in Baltimore so I'm eager to learn as quick as possible.  I appreciate your help very much!