IE, the leaky roof destroys the plaster walls, warps the oak floors, and then lands on the electrical panel.

You can replace just the door slabs to a 6-panel leaving teh door frame and casing or what ever style that you would like, then you can use it for a bedroom, no framing involved

He sells solar panels so he meets with many people idea that tell him about their financial situation.

We bought it as is and it appraised for $12000 more than we paid and we are currently changing the layout of the main living spaces and doing a full gut and reno on the kitchen, losing all wall paneling.

There is a map where you check the housing burden for your specific area and also a panel discussion.http://www.jchs.harvard.edu/research/state_nations_housing

My hang up here is not that I'm scared by mild inspection results, but the results are major: corroded and damaged pipes and stacks, a 150 amp panel that needs replaced, knob and tube wiring on 2nd floor, uncapped gas lines, improper supports for joists, water damage between attached garage and house, etc etc etc.  

@Sterling Cox well what about the containers that ride by on the freight trains. maybe a little bit less than optimum and dont forget the solar panels.

Is removing old wood paneling worth it?

Turn off the power at the panel and open up the outlet.

I'm unhappy about that, because I don't want people freaking because the inspector says the house needs an upgraded electric panel.