Should I buy and rent a house from 1957? Lead Paint exists...

[Cali Skier]

I am looking at a house from 1957 that has lead paint on the exterior that is under siding.  It also has lead paint on the interior that has been painted over "several times and the trim was replaced" per the owner.

I want to buy the property to rent it out. 

What other problems should I look at from a house this old?  Asbestos? non-coper wiring? 

Is this something to run away from? What could go wrong?

[John Underwood]

I many older houses. 

First get an inspection to identify any issues.

For my state I just put in my lease that there may be lead based paint in houses built before xx and give them the government pamphlet. They sign a lead based paint addendum.