Regarding Multi Site Wordpress on AWS

I am trying to setup wordpress multisite on an amazon AWS instance. These are the steps i followed based on the tutorial provided by wordpress (http://ift.tt/f7AODu)

1. Right now i don't have a domain name. Running over an IP address. So created a host on my local computer to access the site. The subdirectory options remains disabled without it.


2. 
   

   Added the following in wp-config to enable multisite>

   
   

   /* Multisite */ define( 'WP_ALLOW_MULTISITE', true );

   
   


3. 
   

   Enabled multi site by choosing Subdirectory option (not subdomain)

   
   


4. 
   

   Updated the wp-config with following by copying from wordpress setting provided during the installation.

   
   

   define('MULTISITE', true); define('SUBDOMAIN_INSTALL', false); define('DOMAIN_CURRENT_SITE', 'acoolsite.com'); define('PATH_CURRENT_SITE', '/'); define('SITE_ID_CURRENT_SITE', 1); define('BLOG_ID_CURRENT_SITE', 1);

   
   


5. 
   

   Added .htaccess (didn't had it before. Just created a file .htaccess and put the following. Any additional steps needed? )

   
   

   RewriteEngine On RewriteBase / RewriteRule ^index.php$ - [L]

   
   

   RewriteRule ^([_0-9a-zA-Z-]+/)?wp-admin$ $1wp-admin/ [R=301,L]

   
   

   RewriteCond %{REQUEST_FILENAME} -f [OR] RewriteCond %{REQUEST_FILENAME} -d RewriteRule ^ - [L] RewriteRule ^([_0-9a-zA-Z-]+/)?(wp-(content|admin|includes).) $2 [L] RewriteRule ^([_0-9a-zA-Z-]+/)?(..php)$ $2 [L] RewriteRule . index.php [L]

   
   


6. 
   

   Server restarted. Logged out and login

   
   


7. Navigated to Network admin and created a site with name, description and an existing email.


8. Got the successful message.


9. If i try to access the site i get the following:

What am i doing wrong here? The 1st site works perfectly. Is there any folder permission i can cross check? Also if a multi site is created will it create a folder in my wordpress directory? Currently no folder is created. How do i debug? Please help.

PS: Posted in webmaster forum first. Now moved to stackoverflow.