<prompt> Human: Ive been discussing and am very seriously considering buying a house with a friend. We were roommates for 3 years, get along, and wed rent out the other room to my current roommate. We both have steady jobs.But, my question comes how to set up a contract between us.We want to make a contract thats fair, equitable and clear for any circumstances where disagreements may arise. What do we need to include?This is what Im thinking so far:If one of us wants to move out, but the other does not, they will be able to sublet the room, or move out altogether and we keep it as a rental.If one person wants to buy out the other, we will have an agreed upon 3rd party assesses the property and use that to base the buyout price.Should I have a lawyer write one up? Just sign some paper and get it notarized? Thoughts?Assistant: Hah, all the negative nancies. Alright, walk me through best case and worst case scenarios:My mindset:Best case: Cheaper rent, dont have to move for a few years, can rent it out if its not working.Worst case: 1. Roommate couples up and wants the house. But, couldnt this be resolved by a contract. You have to move out if you want the gf to live there? 2. Cant sell the house. But, the goal is to keep it as a rental property, at least 10 years, so again in the contract.I know reddit will give me 30 more.edit: words  <response>: Negative Nancy is a pretty dismissive term for people spending their time trying to give you honest advice to help you avoid making a bad decision that could have enormous consequences for your life. 