Playing Hot Potato: My Deferred Maintenance Timebomb

One of the units in my fourplex recently became vacant after an 18 month lease. I was doing some improvements to the unit today when I went into the bathroom and noticed some bubbling of the wallpaper.

Curious, I scrapped the bubble off the wall hoping to find the source of the problem.  I followed it to another bubble, and another, then to the ceiling where the sheet rock was soft.  I started toying with the sheetrock and pulling out the soft parts.

What I discovered was evidence of past leaking.  My tenant complained of a leak, which I believed I had addressed, but apparently there was more to the issue.  Then, I discovered the craziest repair I have ever seen.  Somebody didn't want the ceiling getting wet and rotting again so instead of putting sheetrock on the ceiling they put concrete...two inches of it!

Who hangs concrete on a ceiling?! Whoa?! (NOTE: I actually know the name of the person responsible for this work, call me for details.)  With the metal mesh to hold this atrocity together, it came down in one giant piece.  Needless to say, it weighed a ton. I am glad it didn't fall down on its own and clock one of my tenants.

Finally, so much of the ceiling and wall seemed to be affected; that I decided just to take it all down and start over.  I figured it seemed like a good opportunity to address the galvanized pipe and BX wiring.

The lady who sold me this building had bought it from a local investor notorious for this kind of work.  I thought I had worked out all the kinks in the property. It looks like I have a few more to address. Nevertheless, 20 minutes with a sledge hammer makes for fast work.