Then you technically have nothing to lose and the banks wants to still see you have skin in the game.

It's certainly more likely that you'll get a response than a yellow letter, but I bet you'll need some thick skin for the responses you'll get.  

Everyone i spoke to did not replace wire.just remember; all drywall 12 inches above flood line, cabinets, doors, flooring(tile should be fine), maybe the a/c equipment, window stools, baseboard, insulation, outlets (at least) and it took us 3 months with multiple fans and humidifiers running to get all the wood back to acceptable moisture content.

My experience: you need skin for this game.

I know it gets under people's skin to think they are paying for their tenants to go hog wild on heating and cooling, but in this area it seems fairly common for utilities to be linked together in a lot of properties I have seen.

So I'd check with city code book and see what's required,, all that humidity has to go somewhere,, and inside isn't where it belongs.Even if it was a private home,, the amount of moisture staying inside is bad for your house structure,, mold issues, paint peeling, rot, over time it will become a bigger problem

I can tell you that I would never invest in a deal unless the lead investor had significant skin in the game.

If someone could point me to some beginners reading materials, and possibly recommend a strategy to get some skin in the game (i.e. how to get a JV money partner) I would be very grateful! 

I know we had a moisture problem in the crawl space due too the heat pump from the old HVAC.

I haven't come across a bank which will let with zero skin in the game.