We have a basement bathroom that has water damage from the bathroom above. The damage is old, so it has completely dried, however it has bubbled the paint so the damage is obvious.
Mold is not a concern. We have drop-ceiling tiles so we can see behind the wall to tell that there is no mold.
My thoughts are that I can repair it by scraping the old paint bubble off and using drywall compound to smooth it out before repainting it good-as-new.
My concern is that the drywall is 'ruined' by the water damage. So, is this kind of repair feasible, or will I end up having to replace it anyway?