So many " investors " fail due to being lazy and not getting a base education in the subject but rely on the SALES PACKAGES to make you rich.

If they fail, you move on.

Does anyone have any advice, fail or success stories in this area to share regarding living with roommates? 

I am still getting used to how much of a numbers game this is, failing 30 time to find one in a hot market.

Before getting on here responded to a messaged saying that this may be an option for someone who fails to meet the identification period for a 1031 but if someone has a large gain they may also have a large amount of recapture... 

It's not part of any particular unit and so how can a unit fail for that reason?

I guess the question is what are the reserve requirements.. and keep in mind they are for your own good.lack of reserves was one of the main reasons investors in the landlording business fail.

Unless there's a passing Title V (septic), I assume it's a fail. 

A foreclosure means that the property is in default and has passed the "grace period" and a sale date has been set.3) A foreclosure sale is when the borrower fails to correct the default before the sale date and the bank doesn't postpone the sale date and takes the property "to sale".

Remember that most things start to give you signs they are failing month or years before they actually "let go" so if you are often repairing a large expense item be wary and contribute more to your buffer.