I offered $185k which was immediately accepted.I was surprised by how quickly I picked this up because I had made 3 other “low’ offers on other units that had all been bid up well above the original asking price.I say low because I was only under-bidding by about 5%.I thought 5% below asking was a good deal, but know I know you should look closer to 20-30% below market value.Now, I did some things right on this property.It was a 4bed/2.5bath at 2550 sq. ft. purchased at about the trough of the downturn.During the 3 years I lived there, I had 4 roommates at various times, pulling in an extra $21k total (sound familiar to Brandon Turner’s “house hacking” philosophy…great minds think alike???).

If the building is WF and you just nailed down hardwood over Plywood or OSB, your downstairs neighbor would hear every step you took.2) When you are living in an apartment where people below you can make alterations to their property, you want to compel them to ensure structural changes  won't cause you to become their unintended room-mate.

I talked to him few weeks ago,  he now has two roommates covering all of his PITI + utilities.  

I feel like I have a decent foundation of the overarching ideas, but there is a lot still to learn for sure.I've lived with my current roommate, Molly, for a little over a year now and I've gotten her excited on the idea of investing in real estate as well.

I've got about $400k in PM from 3 people now, my main one is my roommate who is worth real money and the other two approached me from seeing me borrow and pay back some loans to him.  

The fact that you are getting free rent when having roommates or other renters helping pay should be factored into the equation. 

Yes it is too big unless it's common for folks there to live with roommates.

(It's how I could afford to pay for my worthless degree while roommates paid my mortgage) Get ahold of me sometime if you'd like to strategize, I'm also in route to getting my real estate license currently.

Would you consider doing a multi bedroom condo and having roommates?

I had my first roommates within 30 days of owning it and they've been paying my mortgage since.