Look at properties that meet your commute time and dig into the numbers from there.

@Art Perkitny - thanks so much - lots to dig through and digest here, but super helpful.

And you should do some digging on the short term forum about self management and locations. 

I have been told to check out the Diversified Real Estate Investor Group (DIG) but I have yet to do so.

You worked hard for your investment and I know $60 a month digs into your investment or returns... but you will thank yourself if something happens and you need to use the insurance. 

I have the sections printed out from the IRC 2012 regarding basements and I’ll see if I can dig them out for you for some more detailed info.

Take a look at the local investor and real estate groups (DIG, HAPCO, SJREIA, etc). 

This is very useful to dig in beyond the assumptions in the PPM.

But before you dig in and roll your sleeves up, here's a quick way to evaluate this deal on the back of a napkin to find out what it will be worth when you are done and see if it's even worth your time.  

Sometimes it helps to dig the outside dirt next to the wall down a few feet and put in plastic so rain runoff doesn't seep in.