It'll be tough to still rent out the rooms individually if your buddies move out, at which point you want to have the option of renting to a single family and still able to cash flow each month.

To paraphrase, real estate is not something you can jump into overnight and get rich quick.

A couple of my favorite books on commercial real estate that I recommend are: - Complete Guide to Buying and Selling Apt Buildings by Steve Berges- Commercial Real Estate Investing by Dolf DeRoos (this was the equivalent of Rich Dad Poor Dad for me with commercial real estate) 

We are considered to be the average of the 5 people we spend the most time with so connect with REIA meetings, accountability partners, and mastermind groups to engage with individuals interested in real estate investing.At the bottom of this page is a list with help in it.

Looking forward to connecting with like minded individuals here on BiggerPockets

I would price out the plumbing and electric for the smaller stacked units (think ge space maker or smaller) in the units before a free standing building....you just need a closet size space and they do this in the efficiency units (450square feet) where I have a condo rental..this may put the costs for electric back on tenant if individually metered..

Other attorneys and individuals may argue differently because the average debtor in this situation knows they are on the way out any way.

Primarily at this point, I'm focusing on learning, analyzing a deal, and finding mentors and other like-minded individuals with real life experience (in the area's we are looking to invest specifically, but I'm not opposed to making new friends everywhere!)

I think you will find a lot of wise arguments on BP, just note, its all about the team, individual, contact that you have in place that is a reliable, trustworthy, and transparent contact, so do your homework complete your due diligence, all people and assets are not alike. 

I have been in multiple markets over the past few years, meeting like-minded individuals who would love to partner up on real estate deals.