Thanks Marc, the lease actually says:"Tenant, without the prior written permission of the Landlord/Agent, will not remodel or make any structural changes, alterations, or additions to the Premises; will not wallpaper, paint or decorate; will not install, attach, remove or exchange appliances or equipment, such as air conditioning, heating, refrigerator or cooking units, will not drive nails or other devies into the walls or woodwork...The installation of television/radio dishes, antennae or cables, while not restricted by Landlord/Agent, as required by the FCC Telecommunications Act, as amended, shall not be installed, by Tenant, in any manner as to cause damage to the property. 

Most agents though will try to be honest and accurate but it's just really difficult to nail it down.  

An absentee owner does not necessary have any trigger that motivates their interest in selling unless you find, agitate the problem and exploit the opportunity.Too many would-be marketers try to tell all in their initial contact direct response nail piece.

So I bought some 3/4" tongue and groove plain white pine, distressed it with nails and hammers and chains and saw, my kids loved this part.

As I said before too, I'd REALLY REALLY emphasize that you and if you have any partners, that you check with the city of MKE as far as the work you mention this place needs and try to nail them down as to what they're going to require as far as fixing whatever in the place because one example I can give you is one home I'm soon to put on the market where it came (as an REO) with a 4 fuse fuse box and the ancient knob and tube wiring inside and while these days you really can't get ins coverage on anything with fuses, so they've been updated to breakers, you do still have a lot of knob and tube wiring around here as we have a fair amount of housing stock that's very old. 

We understand small holes from nails are part of wear & tear and cannot be charged.

If it's just numbers of 15/25 or whatever, as I said, if it's marketable go for the profit, if it's something you have to live with, depends on what the hassel is worth.I was involved in a neighborhood redevelopment and I purchased homes in a stagnet area, no drivebys in my town (at least not in the daytime) but when we "moved in" we moved "them" out, got the girls off the streets, nailed some drug dealers and broke up the street meetings at the corner.

With the banks playing games so they will not get themselves nailed by the Feds we have given up on short sales.

(Setting aside builder organizations that are really more about prestige and blood money than they are cost savings)The problem, of course, with buying bulk materials is that you either need a bunch of guys who want their sheetrock/nails/roofing/whatever immediately, or you have to store the stuff somewhere which typically negates any real cost savings... not to mention shipping charges.

@Miguel Garcia hit the nail.