Lead Paint Certificates - Baltimore MD

[Brendon Worst]

Good Afternoon Bigger Pockets Crew.  Looking for advice.

Currently working a deal for a 2 bd, 1 bath condo in Mt Vernon (Baltimore City).  Was able to get the price down 9% from list and was planning to put $5-10K into updates prior to renting.  This would be my first deal (still a newbie).

Here is what I've run into.  Lead Paint certificates are a requirement to get a rental license in Baltimore City.  During the home inspection I had them do a "lead consult" with an XFR gun (detects lead).  They found lead in the windows (typical of many old buildings in Baltimore).  So I can either have them painted, wrapped in aluminum on the exterior or just replace them.  No big deal, as I can control that aspect.  However, this is technically a condo in a large row home with 4 units (I would own one of those four).  There is a HOA.  During the inspection they found large amounts of chipping/flaking paint on the exterior of other people's windows, the top cornice of the 3 story building, in the common spaces, etc.  Since I know my windows have lead, and the rest of the windows on other units are identical, when the lead test is performed on the exterior it will find lead.  As a unit owner, I will become a 25% owner of the HOA and a voting member (this is getting complex quickly).

The HOA is stating they are aware of the deferred maintenance but it's not on the list this year.  Therefore I cannot get the lead cert without fronting the money to paint the exterior of the building and negotiating with the rest of the HOA members to be reimbursed later.

My gut says to walk away.  My agent (also my buddy) still thinks this is a great location and a good long term rental.  Looking for thoughts from anyone else who has had to deal with lead certs and/or HOA maintenance.

Thanks,
Brendon