Destructible Meshes

Hi guys,
I wasn't sure where is the right place to post it, but here we go

I am working on a tech demo, just trying to create a bit more complex gameplay in unity, so I am trying to create a destructible wall, similar to what they did in Rainbow 6.

In general, the idea is to create a bullet hole you can see through to the other side, kind of transparency decal.

I've searched a while in the forums, but I couldn't find a good enough solution, how would you guys approach this?

Thanks!

 

A small bump?