@Jerome NunezYou will not be able to remove your name from the mortgage as if your name is on it the lender underwrote it based on you and will not let someone else assume it.

In order to legally use the basement as a bedroom for you or someone else, the basement needs to have egress windows with a ladder to get out.

Look at what else is for rent there on FF, and what they're charging.

I'm not entirely new to RE investing, just new to a program where someone else is doing most/if not all of the work and I'm benefiting, despite paying Kris's team to do part or all of the work.

Anything else is in poor taste in my opinion.

He can stay and pay, or he can go and pay someone else.

last year I had a seller call me 6 months after turning me down because they had gone under contract with someone else who didn't close. 

He runs an education company and publishing company amongst other businesses and openly talks about giving his money to someone else to buy and manage his real estate (so no material participation).

If its someone else' debt attached to a property you bought then this is exactly the sort of thing title insurance protects against. 

Cap rates are at 5-6% on a stabilized SFR with a long term rental strategy.Only strategy I am seeing pencil right now are with a rent by the room / co-living strategy .Flips in some areas kind of make sense where you're all in for around 80% and can make a spread.I'd suggest evaulating different strategies or markets, else you may burn yourself out - this is learned from experience :)Shoot me a pm if you'd like to chat - I'd be happy to chat and help save you some time.