<prompt> Human: I make 50k a year and wife makes 35k We have roughly 20,000 in savings DebtsWifes car: 13k loan amount. 350month Cellphones: 160 for bothCredit card debt: 3500 Car insurance 200 month for both our cars We currently live with my grandparents and do not pay rent. So we have been saving all of our money.The property that we want is a triplex here in Houston Texas, 2 miles from downtown in an up and coming neighborhood. I anticipate this area to be very good in the next 5-10 years due to rapid development In the area. The property is 248kWe are financing through fha with 3.5 percent down, family is paying half of this for us. So we are putting 4k down out of pocket. We plan on renting the other units out and collecting about 1500month between both units. We will be living in one of them. Our mortgage payments with PMI, taxes, insurance etc is estimated to be about 1800. The rental income will be enough to cover most of this. Is this a good idea??? Is there anything wrong with this deal. Aside from becoming landlords..  <response>: You are very close to the line. Of course we cant comment completely without your budget, but I would proceed with caution. Are the other 2 units already rented? If not, I am skeptical about your qualifying for a loan given income is 36 of mortgage, but its close enough some lender probably will do it. That said, with essentially no emergency fund and the liability of house repairs and tenant demands this is a risk you should carefully consider. 