<prompt> Human: My friends and I are planning to purchase a house this summer and we have refined our plan a little bit amongst ourselves, just looking for any help you guys can give. Here it goes:Theres currently 5 of us, 3 in Illinios, 1 in Massachusetts, and 1 in Ontario, Canada.Since we are all relocating, we figured to first move into a decent Apartment that is in the towncity we would like to live in. This would last 2-3 months, giving us time to hopefully establish jobs in the area, as well as have us all together to shop for a house as a group.Once people have jobs established we are looking to get a house in the 100K - 200K range, cheaper the better, as long as the house is not infested, falling apart, and has a decent size. Yard size doesnt really matter to us. The city we are hoping to move to is Romeoville, IL Aviation college is nearby for one of the people moving in.With 4-5 people working minimum wage jobs, making the monthly payments will be easy enough I think. Assuming we buy a 120K house with a 10 Downpayment, and some cushion for interest and whatnot, here is what we got for expected living expenses.Everything is per monthMortgage800 - 1000Food200 - 250Utilities200 - 300Home Owners Insurance75-150Emergency Funds100The monthly cost could range from 1375 - 1800.Personal expenses for Car insurance, gas, etc. will be handled individually.The house will have 2 peoples name on it, my best friend I. To keep things in check, we plan to draft contracts up with a lawyer for each individual to commit to paying X amount per month for 1 year, and the contract can then be extended another year or terminated if they choose to leave the house for whatever reasons.As for coming up with the money for each month, assume 4 people are working minimum wage in Illinois, each takes home about 7 per hour after taxes.Not everyone wants to or can get a 40 hour work week, so lets say we all get around 20 hours of work a week.Thats 140 after taxes, per person. 560 total per week, 2240 total per month.Sounds good to us, how about you Reddit? Thanks in advance!  <response>: Why dont you just rent?What if 1, 2, or all 3 tenants decide to live elsewhere? 