It's all over the place and landlords have far less hassles with an arbitrager that was screened just like a LTR tenant, then a 12 month live in the property tenant. 

Specialized policies, contractor recommendations, tenant screening, lease agreements, utilities, and exit strategies are also important.Good luck!

This is a low-risk way to learn about property management, tenant screening, maintenance, and more.

I'd want to know more information to make a good recommendation, but it sounds like you would have a strong argument if everything else is the same except for location.MP tasksTenant Management:Showing properties, screening applicants, and preparing leasesWelcoming tenants and addressing inquiriesCollecting rent and managing evictionsProperty Maintenance:Cleaning, repairs, and inspectionsAdministrative & Marketing:Supervising staff, purchasing supplies, and promoting rentals (ads and website)

Quote from @Max Wilhite: Welcome to the BiggerPockets community in the tab at the top of your screen it says starting out under that you’ll find a search engine where you can find all listed real estate meet ups in your area.Thank you! 

Hi, As a property manager (based in Chicago), I have to say the screening process is paramount, because its the start of your relationship with various prospects.

The reason for that is I have no idea how bad someone sucks at tenant screening.

I think that this is the "blood in the water" thing that investors talk about. - The examples have incredibly good math on paper.

Additionally for hosts who opt for enhanced screening, the eviction rate is under 2%. 

@Renee LeFevreTo rent out your basement, follow these steps: check local regulations, prepare the basement with separate entrance, screen potential tenants, draft a lease agreement, set the right rent price, consider tax implications, update homeowner's insurance, and build a positive tenant relationship to attract quality renters.Good Luck!