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.

@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!

While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

The only challenges you haven't mentioned is advertising for roommates, screening them and where to get a lease.

Make sure you are properly screening your leads the same as you would for long term renters. 

Louis because of the price $60k to $100K usually 3-2 bedrooms and 2-1 bathrooms to put for section 8, but a lot of people said bad things about it that make me scared We have the same screening process for Section 8 as we do for traditional tenants.

Run a credit/screening report on yourself.

Tight tenant screening is always a key factor in preventing costly evictions. 

Close to double that if owner wants the listing agent present for showings2. ask for pre-approval, ID, timeline, duration of home search, reason for buying, and additional pre-screening questions as needed