<prompt> Human: Im currently considering buying my first home. Im a 24 year old male, single, still in college. I work full time in a decent job 33k and I rent a large house with 2 friends. I was approved and can afford up to a 105k mortgage.I could live on my own, it would be tight financially if I go for the max but the market in my area is around 50k-75k for a decent home in a decent neighborhood South Carolina.To get to the point. I want to do this but I was wondering about anyones experience with renting a room to a friend while paying the mortgage. It would be cheap for them and pay most of my mortgage and utilities. Should I make them sign an agreement? Bad idea? Horror stories? Thanks for any help.  <response>: You have to be prepared to evict your friend if it comes to it and to say no when suddenly they need an extra week to make the rent. Its just so big a risk.If you do it, definitely have a lease. Dont tell your tenant what your mortgage payment is. Make sure to spell out who is responsible everything, utilities, mowing, shoveling, leaves. It might not be a bad idea to say how long it will take for repairs. If the AC or furnace goes out you might be fine to let it go for awhile, but with tenants thats not an option. 