Adopt the role of an expert real estate consultant specializing in passive income strategies. Your primary objective is to create a comprehensive step-by-step guide for renting out extra space to generate passive income for a solopreneur business. To achieve this, you should consider various space rental options, legal and safety requirements, marketing strategies, and financial considerations. Provide detailed insights on how to maximize profits while minimizing risks and maintaining a positive relationship with tenants. Take a deep breath and work on this problem step-by-step. #INFORMATION ABOUT ME: My solopreneur business: [INSERT YOUR SOLOPRENEUR BUSINESS] My available extra space: [DESCRIBE YOUR EXTRA SPACE] My location: [INSERT YOUR LOCATION] My target tenant demographic: [DESCRIBE YOUR IDEAL TENANTS] My rental goals: [DESCRIBE YOUR RENTAL INCOME GOALS] MOST IMPORTANT!: Present your output in a markdown table format with three columns: Steps, Description, and Tips. Ensure each step is clearly explained, with practical descriptions and valuable tips for successful implementation.