Nobody can afford higher prices but the majority of his voters don't understand tariffs, global trade, and basic economics so here we are. 

I basically ended up paying for the rehab twice and lost tens of thousands of dollars to make sure my lenders were all paid back. 

I believe the safety is solid for my wife and me; in fact, we are about to start having children here.

Definitely go the legal route here, don't rent out the basement unless you have the OK from the relevant authorities--it's regulated for a reason (fire safety, carbon monoxide poisoning, etc.) and your insurance will not have your back if something goes wrong.

Another question I had however is, when/if you ever decide to sell, do you believe they are harder to sell due to it basically having to sell to another investor looking for this and not someone looking for full time living space?

It's a thought of mine as well, basically following my mentors model. 

basically what wheatie said, but slightly different.

Operations- tenants refusals, either cull them before they get to you by requiring autopay as an example, document on their application why you refused them, make sure your facilities are maintained properly and no safety hazards exist, etcLLC.

But in reality, reinvestment risk is real.In rentals, in today's market, there is basically no cashflow available after a BRRR and you introduce tenant risk into the equation and any longterm hold will have pretty continual maintenance.  

I don’t know why we didn’t get that vital piece of info in our initial meeting.So my wife and I are extremely relieved .She says she will stay on as a courtesy and if things come up it will just be an “ hourly “ rate for emergency type situations or basic boots on the ground necessities.We really like her enthusiasm and positivity and she is great at communicating and seems  sincerely empathetic to our situation.