Lead paint with inherited tennants
I have a 3 family under contract in massachusetts. The closing date is end of the month. It is a house built in 1914 and I just received a disclosure from the seller indicating that "seller has no knowledge of lead paint".
There are 3 tenants living in the property. So, I will inherit them.
Does anyone have investing experience in a property where lead status is unknown?
I guess per MA state law, you cant rent to someone with a child younger than 6yrs of age.
Even if the kid is 8yrs old, I cant stop him from peeling 5 layers of paint and eating the layer with lead paint.
I also cannot control people reproducing in the house and giving birth to less than 6yr old offspring after they move into the apartment:) Do they have to move out because they just had a kid in a "lead status unknown" property?
I like the deal. It is a quiet area. Cashflow and the condition of the property is decent. I dont want to throw away the contract because of lead but I would like to hear from investors in MA and maybe in Maryland MD.