Moisture is trapped in the wall which can create mildew/mold issues inside plus it decomposes the brick itself, and rather quickly too.

Easier to deal with now before fixtures go in than later when your floor sags from trapped moisture.

Moisture in ceiling; subfloor damage.Moisture in ceiling; staining and previous repairs.Moisture in baseboard and floor.Moisture in ceiling; staining.Moisture in ceiling.Roof replacement; address moisture and leaks.Exterior inspection; identify and fix moisture sources.Fix moisture damage.Electrical system overhaul; ensure safety and compliance.Temporary housing costs for tenants during repairs. 

Renters in that demographic aren't likely to keep up with the home, increasing the chances of moisture/mold build up, soft spots, interior rot, heavy smoking damage, etc.

@Joey Allison Mold is fairly common in Arizona, once moisture is introduced it can take off pretty quick.Mold is also very treatable in most cases.

James—about a quarter of those look like bad contractor work and resulting water infiltration , and another quarter high moisture from not having a bath fan on a humidistat.  

Termites love moisture.

After investigating I found the moisture was coming from a HOLE in the tub !

@Ron Flatt it’s moisture vapor, it’s constantly passing through an uncovered slab.

I'd also look for ANY moisture invasion issues like roofs or around in the baths and kitchens.