<prompt> Human: Im 21. I have 20k In savings. A reliable paid off car. And another 7k coming in next month from contractor work. I have a trusted friend to buy a house with and to make the down payment less of a burden. I found a property I could purchase for roughly 230-250k. I plan on renting out the main unit for 1200-1300 and living in the unattached studio. Market comps show this is viable. The mortgage with an fha would be roughly 1,300 with all of the taxes and insurance included. I will potentially be able to do seller financing as my realtor knows the seller who is also an agent personally, and is currently asking about it for me. I know breaking even is dangerous because of unexpected vacancies and damages, but I am more than accepting of that risk especially considering the value the extra studiounit brings and potential gains for the future. Also 1200 is relatively conservative for the area and could be higher but dont want to overestimate. After the first year when I go to college I could rent out the studio as well depending on my situation for 400-600. I see this as an opportunity to start building equity early. And make it easier to buy another house later on to build up my assets. I will put aside money each month for unexpected repairs. Make legal agreements with my partner if we decide to split costs and equity. And do due diligence with inspections of the property. What are your thoughts? One worry I have is college aid, and whether or not the equity will effect that. any pitfalls to seller financing I should be concerned with? What am I not considering that could make this a bad idea? Assistant: Well deals like this are a good thing until they arent. Never assume youll have a steady income from the property and from your employer. If you factor in some weeks of slow work or trouble getting tenants what does the situation look like?Added to that youll have someone elses name on the deed this makes for classic problems down the line. Why do you want a house to begin with? Home ownership upsides are not what they once were. That asset bubble is already inflated. Your 250k house is not going to be worth 750k in 10 years. Tread softly. Human: My purpose for buying it would be to eventually own multiple rentals properties bringing in an incomepaying off the principle. Im not expecting the property to appreciate, but I am expecting to be able to rent it. Worse case scenario I could live in it and get a minimum wage job walking distance from the home. That of course is highly unlikely. If it came to that it would have to be a pretty bad line of events. What I do now is sales based and Ive been doing it consistently for about three years now and see no reason I couldnt make it though a tough patch if need be.  <response>: Worse case scenario I could live in it and get a minimum wage job walking distance from the home.Youd need to make over 6 times minimize wage to barely afford the payments on a quarter million dollar house. You would be bankrupt and the bank would repossess the house within a few weeks. 