This is a very subjective question..unless you are a restorer or are planning on having a painting restored, then you need to buy a painting in as good as condition as possible. Saying that , you do have to realize these are ANTIQUE or VINTAGE paintings. That means they will have some craquelure, ( Crazing or crackling lines in the paint ) , they may have a few paint chips off, they may have some small tears or rips. A lot of small tears can be taped up with adhesive cloth tape from the back and be suitable for hanging still. If they are large tears, over 3-5 ins., then you may want it restored or pass on it. Also realize with old board paintings, because of the nature of paper/cardboard...it will warp with some age and it also scratches quite easily. If the painting is nice enough and the integrity of the Art is not jeopardized, then I usually buy it .
Some paintings I do pass on are the ones with extensive large flaking of paint , as I am not a restorer and that is the more expensive damage to restore. If you want to have a painting in perfect condition..please realize that is almost impossible for older pieces of Art...you could buy a reproduction painting or print if you want a perfect finish...but then the charm is removed from the Art that only comes with age and the passing of time.