DFW lead paint, pre 1978 SFR

[Account Closed]

Hi,

I'm just starting out, starting to crunch numbers looking for a deal. There are quite a few "older" pre 1978 homes that look like potentials but I have two concerns ...

1) The EPA and lead paint and aluminum wiring. Initially I figured I'd play it safe and simply stay away from anything prior to 1978 or with aluminum wiring. I'm still too new to know if I'm unnecessarily limited available deals, but from reading the forums here, it sounds like this is an easy way to take on huge risk and liability. Seems best to just avoid it? You guys agree?

2) In rehabbing a home, I'm planning to replace as much as I can- appliances, valves in the toilet, water heaters, etc. ..just to avoid being nickeled and dimed by ongoing repairs (plus the time they take to remediate) ... older homes might have a higher mean-time-between-failure rate, simply because they're older ..

Wondering what you guys think?

Are older homes ok? Diamonds in the rough ..or best to avoid them, especially for a newbie?

Thanks,
Bryan
DFW, Texas