If your single get a roommate and live for free..

You cant use boarder income from roommates in most cases (some but not your cases). 

It really sucks to rent your $175K Fountain Square home to 3 young professional roommates at $1,950/mo to have to spend $12,000 after 3 years to deep clean, change flooring, repaint the entire home, etc.

My roommate and I started a rehabbing business and started working together 3 months ago.  

If you are not planning to move back after graduation, sell and keep up to $250,000 of the profit tax-free with the home credit available (unless the roommate rental issue messes that up somehow, check with an accountant).   

A good buddy of mine and former roommate from back in college has asked if he  and his GF of three years can rent out the room. 

The guests leave-You don't need to worry about someone being at your house 24/7 or roommate problems because they are only there for a short amount of time2.

I'm new to these forums but so far enjoyed reading what everyone has posted here.I am very new to real estate investing, I bought a house in Feb 06 and lived in it with roommates most of the year.

You don't have to go through roommate screening processes, etc.

What about tenants who sneak in additional roommates or pets?