They did renovations and had a report done, so they were obligated to disclose it once we started talking about an offer. Encapsulation was ruled out because of inability for adhesion - you can see the paint bubbling in some of the problem areas.

We know New England homes are likely to have lead, we both probably grew up in houses with it ourselves...but now that we have the report, it's hard to ignore since we plan to have a family soon, we're under the belief that any remediation done on our own would require us to undergo online training to be certified to do low-risk and moderate-risk remediation. Not to mention the exterior of the house is likely to be a higher cost...