OK long story if you dont want to sit, read, and add useful help then dont waste your time.

My roommate is a very opinionated female college student. I also fit this description (not female though). We have known each other for about 8 months. She dated my friend and thats how I met her. My friend really f-ed her over. I think shed be a great girlfriend. Not sure how to approach this though. Shes just getting out of a relationship and is already looking into her next one.

Just like most women I've met she says she'* looking for a certain kind of man. However this isn't the type of man she is naturally attracted to. I also realize that I may be in the friend zone. In whiich case I think it would be a waste of time. But she seems like she is toying with me and it'* driving me nuts.

How do I approach her with this before she bumbles into another bad relationship?

Do nothing. Are you willing to lose a good roomate over this? If not, I suggest you let things happen 'naturally'. Don't force the issue. If you're going out to do something, invite her along. You'll get the signals if they're being broadcasted.

Gonna agree with Bill on this one.

Shes not that great of a wind up paying for almost everything she cooks and cleans. I do think that I should either leave it alone or take a blind leap of faith. Those usually end badly.

I'd say go for it if your not worried about having to look for a new roomie.
Your goal in life is to find 'the one' right? You're not going to find her without turning over a few rocks, as they say.

I would have to say leave it alone and just be a great friend. It may be the longer route but you'll really benefit in the long run.

like has been said, it all comes down to wether you are willing to risk losing a friend to get something more. If you can leave it alone, without wishing you had done something, then do it. if you think you will regret not trying, go for it. in my experience its better to be rejected than to keep wondering. plus, if youre nice about it most girls will stay friends with you even if they dont want anything more.

So, just so I understand
1) She'* looking for a rebound relationship (which never lasts very long, by the way), and
2) You are her roommate (presumably with a contract, which I'll presume does last long).

Hmm...

excellent point. i did'nt catch the just out of a relationship part... at least give her some time. let her break up with the rebound guy, THEN come in.