Obviously the tenant hope of bringing in more occupants (and sharing more common area space/bathrooms as a sacrifice) would be to lower the rental cost per person.  

As a newbie, it is easy, and common, to head down multiple paths chasing shiny bright objects, with many of those paths just leading to time wasting and increased experience in learning what you don't want to do.

Quote from @Emily Mohr: Software is a common question on BiggerPockets.

Interesting to hear that people aren’t familiar with this as it is very common.

Check how many electrical meters there are, and if there is one for the common area. 

Structure the agreement using tenants-in-common or joint tenancy, outline a co-ownership agreement, and consider financing options like co-signing the mortgage.

It is very common to see some seems open up (especially on cheaper made brands) over time.I've also noticed that if a floor has a low spot that is parallel with the planks it can keep the planks from locking fully.

Ever hang up the phone and think of one more question? Or worry that maybe it's a dumb question? Or maybe it's something that you never even thought about. As bookkeepers for real estate agents, here are a couple of q...

Also those levels of requirements are more common on larger commercial loans, I’m hoping to start in the residential space 4 units or less. 

It's definitely more common up there (Gilpin County where the regs say you can camp for 30 days with a camping permit and neighbors are typically less likely to complain/ code enforcement is less likely to notice and enforce).