For some reason if the STR route didn't work out I would still be able to cash flow about $190 a month which I know is a bad COC return but as an exit strategy I could up rents to 2k a month since the property next door is renting for that with the same exact layout and wait a year because appreation is rising there as well and sell it.

Renting out a basement unit depends on the home layout.

You would have to lay out your plan in full detail so if by chance you are taken to court, like Jeff Beardwarned, your contract would be your best defense.

If it's a 3 bedroom layout then I think you only need 2-2.5 baths and a family/bonus room area would be better.

The shape and layout, you want one road to service two sets of buildings on each side, to lower the road cost per unit.6. 

Ask seller's agent for - list of recent updates, rent rolls, current leasesLook at - layout of the house (does it work long-term), storage space, plumbing (look under sinks and around toilets for water damage), signs of settling and framing issues, slope of landscaping, roof and gutters, washer/dryer hook-up

I would avoid weird houses with odd layouts or features that just are not going to be desirable. 

With creative layout, we can achieve a balance between appreciation and cash flow. 

They can't determine the quality of kitchen cabinets, the layout of the home, the view out the living room window, the condition of the neighbor's yard, and other factors that can increase or decrease what a home will rent for.

We ended up with a layout that could accommodate between 25-30 lots in the 7,000-12,000 sf range each.