Given the $100 figure for ground floor, I'd expect an adjustment more like $10 a sq.ft for basement.

A $240k loan amount on a $249k purchase price seems crazy and I'd never expect to produce any net positive cash flow doing this.How are you calculating your property taxes?

PMs can minimize their suffering from unrealistic expectations by showing comparable properties that are on the market for rent and having a discussion with the landlord as to how their property compares and how his property can be more attractive to renters.Landlords are running a business. 

Properties here often fall well below $150k, and the market is expected to see home prices rise by 10.5% in 2025.

@Shakthi Kamal read copy and paste advice below.For cashflow, you'll be looking at mostly Class C properties/tenants.Be SURE you UNDERSTAND what this means or your expectations won't match reality!

@Nathan NoorlunRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

In contrast, value-add multifamily properties like the Michigan apartment complex offer:Immediate cash flow exceeding bond yields.Significant upside potential through renovations and operational improvements.A position at the bottom of the market cycle, with strong tailwinds expected in the years ahead.For investors willing to explore opportunities beyond fixed-income investments, the current CRE market offers a compelling case.

Quote from @Andrew Steffens: I think going into an STR purchase with reasonable expectations of cashflow in this current market and rate environment is admirable. 

If your cash flow is break even and you don't expect a groundswell of appreciation, why hold it? 

With 4 rentable rooms (including the basement), I expect to generate $3,600/month with full occupancy.