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Originally Posted by oncetherewasabo
While I'd have "friends" live with me I'd still be the "landlord". I'd still have a lease agreement, etc. Basically, I'm hoping if I do the math right and get a good deal that the rent from the other occupants would cover my rent. Of course I'd still pay utilities. How hard would it be to get a loan if someone cosigned with em?
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Uhhh....speaking from experience, bad idea to front the utilities. Split 'em with your roomies, otherwise you're just going to get pissed off when they take hour long showers, leave lights, tvs, and stereos on 24/7, and want to order pay-per-view while calling europe from your phone. Or just charge them another $50 a month separate from rent.
Best idea - get a deposit of at least a few hundred bucks, since when they move you'll need to fix up the rooms they were in (drywall/sheetrock/painting) and more than likely you'll wind up paying some of their last utility bills. You might also want to consider not having long distance calling available on the phone, and have them use either a calling card or a cell phone.
Condos don't appreciate as quickly as other real estate, so don't expect to make out with a forture. What you will wind up with is a tax deduction, as well as a few years of equity from your roommates paying your mortgage for you. Which could be a nice down payment for a nicer home when you graduate.