Renters are screened by the government and lose their section 8 status if they tear up properties and they don't want to lose the benefit of the government paying most or all of their rent. 

The home will suffer excess wear-and-tear from eight adults.

If you apply 2019 building code to a 1920 property you'd probably have to tear it down. 

I am buying in Wears Valley because I like to think that Wears Valley renters may be slightly more mature and quiet on average than PF / Dollywood renters, and therefore a little lighter on the wear/tear.

I have found a complete tear down in the Smyrna, Ga area for 169k.

They are about $85 a piece but a whole lot cheaper than tearing open walls to wire them.You should be able to work around it with reduced costs. 

Over the last few years with the value going up though I've seen quite a bit of tear downs for new builds, especially around the U. 

He did tear out the bathroom as part of the rehab & the stud cavities were loaded with mold but completely removed.

will they tear it down if i don't have the permits?

Wear/tear is much worse than long term rentals.