I have old baseboards in our house and need to replace just a two foot section. I figure it would be cheapest for me to attempt to mill mine own. I had a guy work on our house a few years back that needed to do exactly that and left me a small sample of what he made, which matches perfectly. I assume using a router would be the best bet, but what type of bit should I use to get this shape? This will be my first router attempt but I figured I would be out minimal amount of money rather than having a shop make this for me.
Likely a false economy. You might spend $200 or more on tools for the job...router bits are not cheap, and neither is a good router (though the cost of bits soon exceeds the cost of the router, be it good or cheap.)
My ballpark guess on "how that was done" (or could, most inexpensively, be done) is 5 saw cuts on a tablesaw and then cutting 3 edges with a roundover bit in a router. Not the quickest way, but likely the cheapest way to make a small amount. For 2 feet, you could probably do all the roundovers with sandpaper, preferably with a radius block, but probably freehand could work well-enough.