How big of an headache is lead paint?

[Joshua Merrill]

So I am actually buying our first house in Las Vegas Nevada which was built in 1967. We plan on living there for a while with our young children, doing some cosmetic repairs while living there and then renting it out in a year or 2. We just submitted our offer but I'm curious how big of an headache is lead paint? Should I paint over it or remove it? Or avoid the property all together? Any advice or tips? Please and thank you.