It's only a stepping stone to break free.While you are slaving, eat ramen, roommate up or live in trailer, avoid Starbucks and tuck every dollar you can squeeze out into a bank account. need 20% down and money for materials. so for 80K home (trashed), you will want 35K banked to get started, just a rough idea.Then, get pre-approved.

My current tenant has asked to search for a roommate.

I was curious because I have been through Indy a few times and my college roommate lives there and his rent for a single family home is a total of $1300 in Noblesville with the value being about 100k give or take a few.

Are you willing to have X number of roommates?

Usually, if people are on the fence (typically a group of roommates deciding what to do) bringing new potential tenants in to see the place (or even just scheduling a showing) will push them into a decision.

It simply is not worth the effort to collect a month of one roommate's rent.The poster of this very post you're posting in has a tenant who didn't pay rent for 4 months, and then on top of that they broke the lease. 

I initially bought it as a primary residence and I have had either a roommate or the entire home rented out since I bought it. 

I have a large one bedroom apartment that I'm getting ready to lease in Ohio. It's large enough to where it has a third floor (unit entry is on second floor) that is quite a large space and can accommodate an addition...

So, here's the information;PITI: $1521 (including MI and HOA)Refinance costs: ~$1000 (most lender fees waived)New PITI: $1389The new loan would be HomeReady so I can use rental income from roommates to help with higher DTI.

There are plenty of value add opportunities if you are really willing to have a roommate and do improvements and then move again.