Hi, number4, this old building inspector chiming in (again)... I heard something similar from an attorney I paid to advise us when a friend's daughter wanted to rent my cute 1930 bungalow. It had a well that was never added to county sanitation records, and from my purchasing the house, I knew was likely to be contaminated with E. coli, as it was an old-style, shallow well that may have picked up leached ground water contaminated with septic effluent from the too-small 1947 septic system.
I told my friend that we never drank the water there, but they both assured me it wasn't an issue, and they even owned a similar property so they would never, ever fuss about that.
Well, the attorney set me straight: under landlord-tenant laws (in Virginia) I would be assuming liability for not providing "potable water," even IF the tenant totally agreed to drink bottled water, etc. and as I understood the attorney, even if it was IN WRITING, since the law mandated I must provide the tenant with a safe source of drinking (potable) water. Yikes. Plus she said if I knowingly had rented under those conditions, it would look bad for me in court if, let's say, her kids got sick from drinking that water. She said "people can tell you this but if injury occurs, their feelings can change, really quick."
Gulp....(sorry about the pun).
Upshot of it was that we actually lost long-time friends over this, after I decided we had to decline their repeatedly pressuring us to rent the old house to their daughter!
With lead-based paint, I know that complete removal isn't always feasible, but getting the property inspected for its presence, and certifying via a lead-based paint contractor that all such surfaces have been re-coated, may or may not protect you legally. I don't know... Renters can bring more headaches than you can imagine, or so I was told. It would depend on how much of the paint was lead-based, and I'm assuming interior surfaces are the ones most likely to be of concern? They could also mean exterior surfaces, not sure of the laws there.
Sorry but I think you are getting wise advice.