Cut 3/4-inch MDF to width on a table saw to the height you want your baseboards to be. Cut enough pieces to install as much baseboard as you need. Cut Strips of MDF 1-inch wide. Cut one for every piece of baseboard you cut.
Install a round over, or detail bearing bit of your choice in a router table. Set the depth so that the bearing is 5/8 inch above the table top. Start the router and run one long edge of your MDF pieces along the bit to cut the detail into the top of the baseboard. Run the MDF pressed firmly against the bearing for a smooth cut.
Install a 3/4-inch cove bit in the table router with a bearing. Set the height the same as before. Run one 1-inch face of each of the narrow strips you made along this bit to cut a cove into it to create base shoe cove to install at the bottom of your baseboard to cover and gap between the flooring and the baseboard.
Sand your baseboard and cove with 100-grit sandpaper. Focus on smoothing the edges and any rough areas on the face of the moldings. Use a tack cloth to remove the dust from the MDF once sanding is complete.
Apply two coats of semigloss latex to the moldings with a soft bristle paint brush. Work in long straight strokes parallel with the length of the molding. Allow an hour drying time between coats. Wait four hours before installing the molding.
Cut your moldings to length as you would with traditional baseboard and base shoe. Nail it in place with 2 inch pin nails, install the baseboard first, with the decorative edge up, on top. Fit the cove molding to the base of this board and nail it to the baseboard with one nail every 8 inches.