Sharing single condo with multiple tenants

[Trung Nguyen]

Finally found a property on which I made an offer, and now having second thoughts about some of the assumptions made. The biggest of which is being able to rent out each room in a 3/3 condo to three different tenants at half of the market rental rate. Meaning, typical rental rate in the area is about $1500, and assumption is to rent each room out for $750, for a gross monthly income of $2250.

This is my first investment property, so I'm a bit skeptical on the figures, and worried about multiple tenants with multiple lease agreements occupying the same unit. I've looked on Craigslist for similar offerings, and there are some at the same price point and similar area, but...

Unless I find a friend group of three who want to occupy together, it seems like I'll be playing matchmaker to get three different people to be OK living with one another. I don't look forward to that, nor the possible roommate drama that could boil over.

The numbers wouldn't work out (it wouldn't cashflow) if I only rented this to one person at market rate. The agent who found the property is also an RE investor and says this strategy will work (she's down the same with a 3/3 townhome), but it'd be a big leap of faith for me to take.

Maybe this is just first-timer's cold-feet, but is this too much risk for a new investor?