<prompt> Human: As the title suggests, I am a 19 year old college sophomore who was teasing the idea of purchasing a adequately low cost 3 bedroom1 bathroom house to both rent out and to live in. I work full time for a decently popular chain of banks that I intend to stay with after finishing my degree. I have discussed with some of coworkers about purchasing this house to live in myself, and then using the spare bedrooms to rent out to my friendsother students of the university that is only a few streets down from the property.Are there any landlords out there who could enlighten me as to things that I should consider before purchasing a property at my age? Perhaps thoughts on if this is a solid investment strategy whatsoever? Any advice is highly appreciated.  <response>: Im 29 and just did this myself. Difference is the upstairs apartment is its own 1 bed 1 bath. I live in the bottom apartment and they contribute to about 34ths my mortgage.Passive rental income is a good idea if you have the patience to be a landlord. Sometimes you get really chill tenants that you dont have to worry about and sometimes its the opposite.I think in the long run I made a sound choice. I paid well below the average for the area Im in I actually feel like the previous owner hosed himself and the market for the area Im in is really good if for whatever reason I need to sell.Make sure youre buying somewhere where you wont have trouble finding renters. Make sure you have a strong lease. Make sure you keep an emergency fund. Always plan as if you wont be fulled rented out.Dont be a slum lord. 