Why would any person in business reduce their income to make a undesirable tenant "fit".

If it is a over/under your friend is dealing with I would check with the building department if it is possible that the building was constructed to code and if not,  then see if an additional layer of 5/8" fire rated drywall that was taped and mudded with fire rated mud would solve the problem to the appraisers satisfaction.  

Quick cash (wholesaler) and no risk* - well the only risk is your name will be mud if your numbers are not wrong, so repeat business will never be had if so. 

If there is a worse example of rewarding an undesired behavior, I am challenged to think of it.

Expect around 2.4-2.6% for non-homestead, maybe 3-3.5% if you need to pay a MUD as well

Dun and Bradstreet has Paydex reports that would likely show UCC filings or other undesirable things for entities.

You can pay contractors extra to bring in their propane heaters, but your mudding & painting quality may suffer.DAWGS Boardup: metal screens over doors and windows.

Originally posted by @Timothy Aughinbaugh:10 to 15 cap rates all over Kansas City Is that normal or has the bubble burst in Kansas City or is there another reason the NOI is so undesirable and risky?

I know why white is used most times - its easy, simple and mudding compound doesn't stand out however, also looks simple and without depth in pictures and just basic.

I pay my maintenance guy $15/hr so we did it the same day he was there tiling the bathrooms & he also did the mudding of the drywall in a couple of hours.