With that said, the trustee sale market in my area has dried up considerably this year.

The walls are paneling and not dry wall which to me indicates shoddy construction.

I sealed the slate before putting the grout in, and intend to seal/use an enhancer in a few weeks after its dried out.

If they dry up, fall off, and the dog eats 'em after a couple days, and the paper is no worse for the wear, just hose it down with texture and paint it!

Needs updating, but no signs of water damage anywhere, no mold that we could see, finished basement was totally dry, newer windows.

@Andrew Johnson  antidotal story of a friend of mine who followed me to ATL to buy SFR court house steps in 2011 and 2012 we killed it... then it dried up when Blackstone and others came into the market.. he got the bright idea of going into low end multi.He found a 44 unit in Memphis for 8k a door 65% vacant... as you know I have extensive expeirnce in the mid west and lower end areas like this...

I believe a correction is 12-24 months away and I am advising my clients to get dry powder ready for when the buying opportunities come.I'm not predicting a crash.  

Although it's kinda dry right now it's not uncommon to find deals that cash flow pretty well.

Occasional flaking off of some substance that looks like dried mildew when switching between heat and cool.

I'm not sure why they cut out the sheathing either, other than to allow drying, but they did.