I've been searching the internet for the method used to calculate a sensible rental price of a room for a 3 BDR Condo, but haven't found anything.I know if it has to do with the measurements of each room, the condo itself, and whether or not the subject room is the master bedroom or not. 

Get reliable internet service and pay for the highest speed they offer.

If you don't have any other investment you want to embark on with your excess fund that would be generating some sought of income for you on the side, I am sure your best bet is to go for 20% downpayment on your real estate purchase because it helps you build equity really fast and if due diligence is properly followed in the purchase strategy then you can be rest assured of stable and steady cashflow. 

Always do the math analysis and try to look at your prospective properties before you make an offer on it or have a clause in the sales contract of the subject property some upfront time (about 10 to 15 days) to make a detailed inspection of the subject property without a penalty that will hurt you too much.You may or may not have noticed yet, but be aware that that there many crooks on the Internet that have been specialists at selling stuff you do not need.  

That is a joke (since internet is really bad at getting vocal inflections right.  

Since I had a broker license for about 30 years but never did that full time, I still thought I could do that now.One thing I noticed and want to tell you that there are many theirs on the Internet who are trying to sell things on emotions and things you do not really need.  

Im willing to bet you have a pretty good interest rate on that loan too. 

Based on the numbers you presented, this is not going to be a cash-flowing property and is solely a bet on appreciation.

This is the first time I have used internet advertizing and pulling credit scores.  

My small room with a twin bed goes for 650 per month and the large room with a queen bed goes for 850 per month all utilities and internet included.