This can include opening some walls here and there so the inspector can check if everything is built to code, then you repair or tear down depending on what they find. 

The off-market properties I'm seeking out personally are almost always low end (of the local market) , 95% raw land or tear downs.

Also, what is the wear and tear on a house and furnishings with 8-12 people drinking and whooping it up?

I also dislike the equivalent of grade inflation- in the sense of just because it's all average wear and tear (?)

If you're going down to the studs in the bathroom already, tearing out the window trim/stool/apron is probably the best bet.  

As a hard money lender who works with many investors in the Portland area, I can share some insights on maintenance costs for multifamily properties in this market, though individual experiences may vary:Lots of investors report a slight decrease in maintenance costs during winter months, bc of:- Fewer landscaping needs - Less wear and tear on HVAC systems (as heating is generally less intensive than summer cooling)- Reduced tenant turnover in winterWinter-specific issues can arise:- Potential roof repairs due to heavy rain or occasional snow- Gutter cleaning and maintenance to prevent water damage- Heating system repairs or maintenancePortland-specific factors:- The mild climate helps reduce extreme weather-related maintenance issues. - Older housing stock in some areas may require more upkeep. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!

Tear out and replace is probably necessary. 

One can get a lot more wear and tear. 

A former tenant of mine asked me if I could tear up the tile in the house and put down new carpet.

The truck you bought will instantly lose value the moment you drive it off the lot, it will depreciate over the years due to the miles you rack up on it and the normal wear and tear of a vehicle.