Whisk together the buttermilk and hot wing sauce in a bowl, and pour into a resealable plastic bag. Add the chicken pieces, moving chicken around in the bag to fully coat with the marinade. Squeeze out the excess air, and seal the bag. Marinate in the refrigerator at least 4 - 6 hours, turning the bag over at the halfway mark.
Preheat the oven to 425°F. Lay out a clean sheet of waxed paper for the chicken.
In a shallow dish, mix the flour, paprika, Old Bay and pepper. One piece at a time, remove the chicken from the marinating bag, shaking off excess marinade. Dredge chicken in the flour mixture to cover completely. Shake off any excess flour. Set chicken on the sheet of waxed paper.
Set aside the chicken to sit, at room temperature, on the waxed paper for 10 minutes.*
In a foil lined 10 x 15 baking sheet, melt the butter or margarine in the oven for 3 - 5 minutes until bubbly. Do not allow the butter to burn.
Place the chicken, skin side down, on the baking sheet. Bake chicken at 425 for 30 minutes. Remove pan from oven, turn chicken over and continue to bake another 30 minutes. Chicken is done when juices run clear and a meat thermometer inserted into the thickest part of the chicken reads at least 165°F.