I would lease it to cover cost for 2/3 years and then I would sell once I could get $475,000+  Would be a nice ROI and is actually doable.Love this idea!

I think this looks nice and clean

Even then, if you've built up enough carry-forward losses, a nice capital gain may not trigger any taxes to be paid. 

Both offer fixed rates and 30-year terms as a nice contrast to commercial financing.

Anyone would consider a nice finished room with great natural light a bedroom, but in the off chance the tenant doesn’t pay rent then I would be in the wrong for letting he/she live there in the first place.

My wife Cortney and I love the diverse restaurant and bar scene.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

When I started buying places as rentals, I also bought a newer condo and it's done well, but still struggles to cash flow (in part due to a long term renter and rent caps, but also increases in condo fees) while a house I bought at the same time has had higher turn over (allowing me to increase rent to market value) but does cash flow nicely. 

As the owner, you should also be more flexible about how nice the basement is - saving you rehab costs. 

It does need maintenance at least once a year with Leather Food or the like to keep it nice.