How well can you manage multiple roommates?

Most properties are remotely managed by owners/PMs and what was suggested would be an impossible and unrealistic standard to set - much less enforce. 

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students What was the outcome?

There are a few properties in the Midwest that manage to generate cash flow, although the appreciation is minimal—this is about the best scenario you can expect.

If you have one high earner as a W-2 I would recommend the other switch to managing the Real Estate side of your wealth ASAP. 

It is an awesome system and does everything for single and multi family management, makes our difficult job so much easier.

@Kyle Cross you claim to know a lot about the industry, but your questions are vague and so is the info you've provided.Not sure how managing 8 units doesn't, "require much management"?

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

Are you self managing those properties?

Yes, there are property management companies, but not sure if I would 100% trust them.