If you are in coal country this makes the possibility a bit higher , sometimes a new shaft will change the ground water flow effecting a well .A friend of mine is in Confluence Pa , his well is 1300 feet deep , and it produces 2 gallons per minute , he has 4 Large pressure tanks to have reserve water .

Find a deal (deals) and you bring value.I guarantee nothing...just produce results!

As a landlord, if a student could produce a letter like that, I might accept it if they could also document their other income and expenses.

Do a google search on fire damage repair or fire damage restoration procedures.       

I would Buy a few Properties or multi familiy and say produce 2k or more monthly cash flow and use all that to finance the basement renovation and increase in monthly mortgage payment

@Jason W. the equity and cash flow splits are typically tailored to produce a target return for investors.

Debt instruments are not the same as owning and it would take a heck of a lot of paper to produce $120K.

As a business, it is valued based upon the amount of cash flow it produces and perhaps, to a lesser degree, a little good will arising from its positioning/potential for growth and producing better returns.Anything you can do to increase the cashflow of the business will increase its value.  

Ideally you want a rental financed to the maximum amount that produces positive cash flow and spread the cash to as many units as you can.

and that's what a good team is there for anyway.I would never counsel selling a good producing asset that is in a good condition and your analysis projects good things for the future.