Read into a few posts about house hacking, from what I understand that entails moving roommates in to pay the rent and possibly making a positive cash flow.

So hoping to put 20% down and pay mortgage in full with income from roommates.

in your target area- Thoroughly screen these roommates as this will make or break your investment - Figure out the structure of your partnership - do both of you own the home?

I currently live in Brick, new Jersey (Ocean county) and I've been house hacking for the last few years having had a roommate living with me in my extra bedroom paying me rent.

For example if the utilities were $300 average you could just write into your lease that anything over $300 gets split between the roommates. 

And once they're finally gone, it'll take me some time to re-rent it (roommate in the lower, eventually new tenants in the upper) --- which will be difficult after October.  

We have one roommate living with us.My thoughts are to remodel the current house add a master suite to the bottom of our split level foyer.

As for Edgewood, you'll find mostly single-family homes (that yuppies tend to rent out with roommates):A-class 3/2 going for $600K and upB-class 3/2 going for $350K and upGrowth-wise, Edgewood home prices have grown about 150% over the last 5 years.

Quick question.....do you and your roommate plan to throw parties during the next 2 years?  

It listed lease paperwork fees like roommate on off was $50.00  add additional tenant was same, plus application fees.