Just last week, we completed a $45,000 job for water pipes, drain and sewer pipes and we increased the electric service to 200 amp and removed all the cloth wiring from the entire house and re-wired every switch and fixture with city permits.

.- basements are hand dug and therefore usually not deep - usually no structural issues (much more in 1960s buildings) but sometimes poor surface water management leading to damp spots.

Possibly damp or wet. 

Spray bottle with 1/4 vinegar and water- light spray wipe all the walls and rinse with clean damp micro-fiber rags (ring out hard) rinse with plain water.

We will build an 8 unit complex with covered parking and potentially a value add by building a side building with coin operated washer and dryer accompanied by a vending machine that's loaded with materials related to washing/drying clothes.

That attic must have had great ventilation; heat and dampness tends to break down the covering over the wire.

(A lowered loud drift car and mod-ish clothing will not get you anything but KID thoughts....)If you want to be a Successful Businessman--look like the local businessmen look when they are 'Networking.

You will go to try and replace the outlet and the cloth is all burned.

You can then have them cover some of their own expenses (school supplies, clothing, etc.) from their salary, using money that was taxed at a lower rate.This is all just off the top of my head, of course. 

Brown water on their clothes, gunk in the dishwasher, mouse droppings, leaks all seem like reasonable annoyances in my opinion.