I Just got an early 90s Baja and now Iam seeing water leaking from the foam legs on it . It is foamed shelled Any advice ? Is this something I could live with or something that will cause more damage,,Thanks

A leak is never a good sign, may get worse, may not. It will waterlog the foam, and decrease the insulating factor. The foam is merely just insluation, your shell is actually fiberglass with an acrylic overcoat.