If it's not prohibited in the lease, you can do it, but for $200 a month, it may be more of a headache than it's worth. Especially because the price may be lower than market for a reason you won't know until you have someone in there. Not sure it's the best investment, but could be worth looking into further if you really feel it might be worth the income.
I can't speak for everyone, but as a property manager I make sure any subLease agreement has the rental price spelled out in the agreement between subLessor and SubLessee. No way am I approving something like you propose. You're also willing to wear a lot of risk for $200 a month.