Either way...... gotta love The Heights......people will pay that amount to rent .,,,,,, instead of building wealth

A good rule of thumb -- if the neighborhood has "Heights" in it- then it will usually have a POS.

Interested in getting some extra income with converting the extra space in the basement into a rentable unit.Basements in a one-family home can be lawfully rented only if the following conditions are met:Compliance with the Housing Maintenance Code for minimum room size.There is a minimum ceiling height of 7 ft.The walls, as high as ground level, must be damp- and water-proofed if HPD determines that subsoil conditions on the lot require it.The basement is occupied by one family and does not include boarders.Every room must have at least one window.The bottom of any yard or other required open space cannot be higher than six inches below the window sill of any required window in the room.

I keep monitoring the properties in the Cleveland Heights area (where we are looking to buy) on Zillow and other web sites but I am sure there are other ways of finding properties.

Investment Info:Single-family residence fix & flip investment in Chicago Heights.

Requires some pre-planning if the ceiling height exists. 

Quote from @Itay Heled: I have a sfh rental in Maple Heights Ohio. 4bdr 1 bath.

It was tricky because the basement ceiling height is not quite 7'.From what I have read online, Fairfax limits STRs to 120 days per year, so it would not be feasible.

Water - landlord plays in JC heights typically.

Quote from @Byram Heights: You shouldn't be in this business!