One roommate out of three tenants on a joint + several lease has descended into hardcore drug use, bringing domestic disturbances and unwanted guests as well as drug use on the property according to the other roommates.

Stock pile cash and possible get a roommate and live for free and save the additional money.  

These houses are not VR's, they are places to stay for refinery contractors doing short term jobs.My logic is that the more people I can put into a place the longer it will be rented out.  1 or 2 guys might be transferred to a Texas or Louisiana refinery, the other guys stay in the house and find new room mates. 

I know the popular opinion is that special assessments can wipe out cash flow, not all associations allow renters, association policies can suddenly change, but I successfully house-hack through roommates in my Ukrainian Village condo right now (I'm 25 so for now it feels weird NOT to have roommates), and for my first true investment property I want to stay close to home (no more than 20 minute drive/public transit). 

When I bought my primary residence I was in the same situation - I started looking in May of 2012 and my lease was up at the end September (my roommate was staying but I was leaving and his relatives were supposed to move in). 

I am considering either getting a roommate or selling my home to help by saving more money.

I look back on my college years and wish I had the state of mind to purchase a house and rent out the bedrooms to my roommates.

FHA does not drop it anymore, so you would have to refinance.You can still have a roommate that pays you.

Obviously the goal would be to live in the property and have my roommates pay the mortgage.

If so, you could always help supplement your income by taking on roommates; that's how I started.