I had a tenant lock themselves out once then I changed the keyed/locking door knobs on all my properties to the hall/closet passage door knobs (the kind without the keyed locks) so that the only way to lock the door was from turning the deadbolt from the inside.

To make a long story a little shorter I ended up moving walls, building walls, replacing every light, switch, outlet, new doors(inside and out), new cabinets, every piece of trim is new, built closets, rewired most of the house.

Depending on how many walls, rooms and closets you have, you might have about 3500 sqft of drywall in a 950 sft basement (I am guessing).

Do you not have a separate designated closet(ish) room for W&D? 

Above those rooms is just a master suite - room, closet, bathroom.

I think there is an appeal to a certain degree of having plenty of closet’s.

I had a contractor client complain to me that a company was trying to pay sheet rock prices for the repair of a cedar closet. 

If the company isn't  willing to do that, it may be a sign they are hiding some skeletons in the closet.

Building a wall and door to enclose the duct work and Hot Water Heaters - $1675Move the hot water heaters from under stairs to new room - $1265Move the washer/dryer from the laundry room under the stairs for tenant upstairs - (cutting concrete to move drain lines and installing new 220 outlet) - $3,520Remove wall in laundry. take out current door and add another door - reframe, sheetrock, - $4,180Create new bathroom with washer/dryer added, new shower/tub, new vanity, new toilet - $7150New kitchen cabinets and countertops - $4,290Move stove - new outlet - $675Replace bedroom ceiling - $715Replace pocket door in bedroom - $300Create master walk-in closet off current bedroom - $775Paint entire unit - $1300This includes labor and materials.

We wanted to put our daughter's name on the title along with ours, so we waited to close until just after she turned 18 and was legally able to sign paperwork, closing in February.With help from our Michigan-based contractor, who lived in the house while working on it, we converted the 1st floor back to residential use, adding a large 6th bedroom with walk-in closet, another full bathroom, a study room, and a living room, and made a myriad of small improvements.