Hi Jason. That's a nice room you have there. As your laying out your lights be sure you get plenty to the lower levels too. As far as the fish tank goes, how big are the entrance doors and stairwell to your basement. My house was built in the 40's and had very narrow doors and stairwell. The amount you would have to cut off the IBC will be limited to that space. You need to cut off the top anyway to open it up for the fish. Also don't forget to put insulation under the tank to keep the floor from sucking all the temperature from the tank. I hope you gave your breeding up because you were tired of it instead of just for room. Aquaponics would be the perfect companion hobby to that.