<prompt> Human: TL;DR Considering purchasing a house where the net mortgage should be about 1300 month. It is our dream house; our entire family is in love with this house. Income consists of my work at 16.65 hr and I should consistently get 40 hrs week and overtime sometimes. My wife gets 600 month from child support semi consistently, and this house has a detached mother-in-law suite that could easily be rented for 600 month. My wife can return to work now if need be, though it would be preferable to wait until our youngest is in school he just turned 4, so hell go to kindergarten in 2 years. My wife should be able to bring in somewhere between 1000-1500 month if when she returns to work. The housing market should be moving up pretty rapidly in the future in this area, although nothing is certain.My landlord came yesterday and told me that she wants to sell the house that we live in, but that she really likes us and would like to sell this house to us, buy another house for us to rent, or even personally finance us to buy a different house all together. I was VERY surprised as my landlord doesnt even speak English very well and I didnt know she thought so highly of us, but none the less it seems like a golden opportunity.Heres where the decision becomes difficult. My wife and I were both born in poverty and until recently were perfectly content just living a modest lifestyle and never having any expendable income. Earlier this year I switched from working in the service industry to working for the post office, so my income and potential for more income in the future rose pretty dramatically. We only recently moved into this house, and we only did so because we got an amazing deal and its literally my wifes dream house. We can afford the rent here, but it leaves us in a situation like weve always been where we have virtually no expendable income. Ive always been great at saving money as I just dont spend extra money that we have, so any expendable income just ends up in savings. Weve had to tap into that savings a bit over the summer as work was very slow, but given the way the Post Office works around here, I should be swimming in work in the next month or so, then never have to worry about not having 40hrs again.Now, lets talk some numbers. Currently my income is 16.65 hour as a Rural substitute carrier. I live in SW Florida and my work is just about to go into season. From what everyone tells me I should expect to work 60 hours from mid Nov to mid Jan, and expect plenty of hours until April area. After that, hours wont be as plentiful but Ill have moved up enough in the seniority rankings that I should be able to maintain 40hrs week through next off season and any subsequent off season. That puts my pretaxed income around 2500month. My wife collects 600mo child support for the 2 oldest children that arent mine, but her ex is great at finding ways around paying it, so it isnt always consistent. My wife and I are also not legally married, so she files her taxes separately than I do and generally ends up getting EIC at the end of the year for several thousand dollars. In addition to this, until recently she was able to collect food stamps though Im relatively certain that once season starts we will never qualify for food stamps again.The house we currently live in is absolutely amazing. Its a very large 3 bed 2 bath on a huge lot with a large screened in pool, a 3 car garage, and an additional mother-in-law suite thats detached from the main house. Its in a very quiet neighborhood. The value of real estate in this area took a HUGE dump when the house bubble popped, and it hasnt recovered very much yet, so houses are still cheap in this area relative to the rest of the world. This house is currently valued at 250,000, and I am thinking perhaps our landlord would take 225,000 since she wouldnt have to pay real estate fees and such basically if she wouldnt take that offer we wouldnt even consider it. We have about 25,000 that we could put down without cutting ourselves short on having a cushion.Ordinarily I would look at the numbers here and say there is no possible way we could afford this, but we considered that detached MIL suite. Its a gorgeous master bedroom bathroom thats detached from the main house, so it could easily be rented out to someone without having to really have much contact with them. Rooms like that generally rent for 600-700 in this area.So basically I figure theres 3 potential sources of income: my work, renting that master suite, and my wifes child support. My work is pretty much recession proof, although the way tech is advancing nothing is certain about the future. On a 30yr payoff our mortgage, taxes, and insurance should run us 1200-1300 month, which is 50-150 month less than what were currently paying. The house is fairly new, so no major maintenance should be required within the next 10 years or so, so I would imagine a maintenance budget of 150 month should be sufficient at first.Alternatively, lets say we bought a cheaper house at 125,000 and financed 100k on a 30 year payoff, our monthly payment would be 700 instead of 1300. Given a desirable detached master suite that could be rented out, suddenly the more expensive house seems just as appealing. Granted, you cannot rely on having someone in there that you can trust, but it still seems that the risk VS reward for the higher priced house is better. Real estate will most likely rise in this area for a while, unless something huge happens to the economy or of course if 3D printers start churning out houses for pennies on the dollar.Am I a fool for considering this?Edit: added the TL;DR  <response>: Constructive feedback: you really have to condense this kind of stuff for people man, there is a lot of extraneous info people dont need. Just give us the numbers and a brief synopsis next time. It tried my patience getting through that and I like to do this stuff.You would be living above a healthy percentage of shelter to income and counting on the housing market to move in a favorable direction. Youre also really limiting your ability to save and deal with problems which in turn could lead to more debt. That house could have some expensive repairs down the road too, especially with a pool. When is your wife going back to work? Is your living situation stable? How long have you been together? How much will she contribute in the future? How are you going to arrange ownership of the property? Why is your landlord so interested in helping you? It seems above and beyond the scope of a normal relationship, I would be cautious. No need to answer here, just some things to consider when factoring the risk on this.I dont think its a wise move for what its worth. Real estate is a frustrating market because you tend to kick yourself when the market is doing well for missed opportunities but when things fall, they fall hard and fast. 