I have a feeling something like this will be added in time, right now it might be a bit unbalanced though. I could foresee a firefight and then instead of taking peoples weapons (which could be stolen back or left because no room) they could just salvage them to be dicks or to just stack more loot- but I guess that could be considered strategy as well!
I do really like this idea though, especially would be cool when you get metal building material drops.
well I'd imagine that you would need to be at a workbench or 'salvage station' to salvage it