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Sure it's possible, but it totally depends on the circumstances. I did this about 8 years ago, and initially it worked for us. We worked opposite schedules and were respectful of each others space and privacy so it was all good. Other factors led to their relationship failing further down the line, but to this day he's my roommate.
So in the end the worst case is you lose some money and people you thought were friends. If you can except that outcome as a possible end scenario then by all means go for it.
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