We have some wooden beams. 

This statement is an example of a light going on...except that light is a high beam. 

Its a building from the 1850s, and it looks like it will require all new siding, major masonry work and support beam replacement in the basement.   

But it includes everything else - from slab, plumbing, electric, to all the finishes (furniture, beam wrap, cabinets, etc)We are pulling $1095/mo which comes out to $750 after expenses. 

@Dustin Beam yes, the HOA is about $250 a month and the monthly rent is $1600

Brush up on building code requirements: in basements you're looking for egress windows that are 5.7 sq feet or more openable (3ft by 3ft casement style windows work best), and ceiling heights 6ft 8 inches or greater (as little as 6 ft 4 inches is ok under ductwork and beams though)Sounds like your basement would be a home-run to generate some extra rental income - Happy to talk through the details of that strategy with you, just shoot me a DM! 

I have had tenants install them on the sides of the building where there were wooden beams, and one guy just put one basically on the ground next to the house.

Could be grade beam construction, but I doubt it would have a concrete floor if that was the case.

Brush up on building code requirements: in basements you're looking for egress windows that are 5.7 sq feet or more openable (3ft by 3ft casement style windows work best), and ceiling heights 6ft 8 inches or greater (as little as 6 ft 4 inches is ok under ductwork and beams though)2.

I was beaming!!