Rhode Island has a fairly common sense approach to the issue and lots of information for landlords on lead mitigation techniques that they consider acceptable besides the full removal or encapsulation of all lead paint.

The lead paint once it is encapsulated by new paint all the paint chips have been removed all the dust has been removed from the house will not be an issue.

Encapsulates the best of both worlds. 

Total encapsulation and sump pump install.

New interior doors new staircase treads encapsulated risers new subfloors a few new doors some drywall another chimney almost out and another dumpster emptied and returned.

[BUT I don't know what state/city you're in... some states/cities are much more strict than the federal standards]I absolutely would not paint the basement for that reason - and I wouldn't invest in encapsulating paint unless you know what you're doing. 

Lead safe is just a matter of using paint to encapsulate any existing old lead based paints - most landlords have painting done so the testing part is the only new thing. 

The normal remediation is to encapsulate something like that. 

Not that big a deal as you can just encapsulate (cover it up) if it's in good condition, but that's just one example of my point about not spending money unless necessary because owning property gets expensive enough just doing the unexpected stuff that inevitably comes up.

Encapsulation is another less expensive option to explore, but again, be sure to use a licensed contractor.Here's a couple of resources for Ohio  http://codes.ohio.gov/orc/3742 and https://odh.ohio.gov/wps/porta...And from the EPA, https://www.epa.gov/lead/lead-...Good luck!