Would those be compromised?  

They will usually accept cash discounts (or country line dance lessons) if offered a compromise.

When knocking down walls etc. one cost that can be big is if the local city or county requires adding a fire suppression system to each unit with sprinklers etc.You have to remember older apartments many times are grandfathered in on old codes but when you go to do studs up they add all this crap that you didn't know about before driving up your rehab per unit.The main water line from the street to the building could be compromised and need replacing.

I'd recommend you do a thorough investigation on this guy and have him pay a deposit if he passes muster Also, inform Tenant #1 that he cannot hand over your property to another and in doing so, placed you both in a compromising situation.

Folks - we're investigating the post issue above, but do note that there are no security issues and no accounts have been compromised -- just a little bug that pops up once in a blue moon.

One thing that hasn't been brought up is the compromised ability to get into the property in case of emergency or abandonment.

If however, the wallboard was wet from a water leak, and if the structural integrity of the wallboard was compromised, opt to replace it (or have the seller do so).

Some guys on BP only do one deal a year because they refuse to compromise on their criteria.

I wouldn't compromise my living standards at that price / cashflow. 

i would recommend that you check that space very well before you make any decision to keep or discard the belly board.Structural IntegrityI have little doubt that having that much water saturating wallboard, structural wood, and insulation for any time beyond a week will seriously compromise the structural integrity on 2 of those 3 items.