Mod_Rewrite Issue w/ Buddypress & Apache

I have installed a fresh version of wordpress with no plugins other than akismet and buddypress. Pretty permalinks work. I am running apache 2 on an amazon linux server. All buddypress pages return a 404 error.

My understanding is this is a mod_rewrite issue. Tried placing code below in an .htaccess file in the wordpress root, then restarted apache, but still receiving same 404 errors:

# BEGIN WordPress
<IfModule mod_rewrite.c>
RewriteEngine On
RewriteBase /
RewriteRule ^index\.php$ - [L]
RewriteCond %{REQUEST_FILENAME} !-f
RewriteCond %{REQUEST_FILENAME} !-d
RewriteRule . /index.php [L]
</IfModule>
# END WordPress