The roof has a leak that has caused the paint to peel off of the kitchen ceiling. 

(I'm copying this over from the buying/selling forum)I've lived in a home for 20 years (it's a 50 year old, 1200 sq ft manufactured home, basically a double-wide trailer, that has very dated decor, drop ceiling, and in fair condition) and it's currently listed for sale.

Replaced picture window with 15 foot slider, built a deck, added a laundry room, installed new hardwood floors, replaced the walls, ceiling, moved windows and doors.

Hello BP Members,I'm proud to say that I have finally closed on my first deal and I am eager to embark in this journey of Real Estate Investing.After closing on this 4-Plex I ordered an HVAC Inspection because one tenant started to see leakage from the ceiling and another complained that one of their bedroom was getting poor air flow.The HVAC inspection result showed that I would need a complete HVAC replacement which will cost me close to $40K (10K/door), an expense I did not expect to incur.

A couple days before closing, we received word that the drop ceiling had fallen out on one of the units.

Lots of pest proofing on the exterior.The biggest project was all the ceiling and wall repair required - had to demo one ceiling where the joists were split - only 2x4s plus water damage caused a major sag.

As others have said carpet is certainly your best bet, if with the under lament and quiet rock on the ceiling about the sound will travel. 

This house's basement was flooded to the ceiling, submerging the oil burning furnace, heating oil tank, security system panel, electrical panel, and water heater. 

"Ceiling has collapsed on us." 

Remove the popcorn ceiling, patch, prime, and paint white.