Typically, I'd keep taking out mortgages with 25% down until my fund were about dry, but that strategy is getting old and boring to me (though it has been successful over the years).

If you have no problem doing lawn where there is far more black mold you should have no problem ripping out moldy dry wall.  

@Trevor Murphy if the ceilings are high enough dry over it.

I could get something certified by structure engineer but for the same cost I could probably cover the wall with dry wall and cover the issue.

It's not a ship or a submarine, which stays dry if submerged: there are many water entry points between the floor slab and the wall system, expansion joints and relativley normal hairline cracks. 

If the hairs on your neck stand up- listen to your instinct.

Yes tax assessments are high in the city, and good luck fighting them down with out pulling your hair out, but it never hurts to try. 

Austin is a very saturated rental market, so it makes sense that bookings are drying up a bit during the slow season. 

The time share resale industry was where the 50s land sales guys/gals ended up. when land sales started to dry up they moved to timeshares/  and in the industry they call it crimeshare.just like in the industry low end rentals can be called Trashflow..

., flooring, roof, dry wall, etc.)