See previous reply.

Unless you're in the desert or have taken measures to alleviate the moisture drive upwards through your concrete floor, I would avoid installing vinyl directly on the basement floor. Delta FL (or equivalent) followed by LVT or carefully chosen laminate could be an economical alternative.

We have taken steps to alleviate moisture under the concrete floor as well as the walls. We do anticipate having a very dry basement, but you never know. Thank you for your advice!

Rent a floor machine and polish your concrete. Completely non-toxic and nearly bullet proof.

Joseph, can tile be placed over polished concrete at a later time if it is polished?

Take a 60 grit over it and it will be unpolished very quickly.