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