I plan to improve and stabilize it, increase rents, get some cash flow, then sell for a little profit in a year or so if the market supports it

I wouldn't add a driveway just for refi or even to sell.I am not sure the cost will justify the increase in valuation and I am pretty sure you won't getter significantly higher rent because of driveway.

The reason that I (and a lot of others) feel comfortable with increased competition within the tenant base is the expansion trajectory of the college.

You will pay much less per month for the software and the customer service is excellent. 

Also, if you're reading a good book and it mentions a U.S. law, or custom, maybe just make a mental note that it may be different near you....then ask other investors what their thoughts are....The networking will do more for you than you can imagine!!! 

Might want to see if there is a cap to the increases.

Also, to make things more confusing, insurers have a base dwelling coverage, and an optional increase (of about 25%) that it can go up to..  

I currently work I  hospitality which gives me a lot of insight in building positive, ongoing customer relationships, and proper negotiating and sales tactics.

I was recently denied a credit line increase.I recently got an unsolicited credit line increase on a store card. 

I know increasing offer price helps of course.