Co-op/townhouse purchase, is this a good idea?

[Michael Jurewicz]

Hi all,
I'm hitting a bit of snag in my real estate investing attempt. My girlfriend and I can't seem to afford anything in the town where we want to live unless we pay a lot each month. I am all for it, but she is unwilling to give up more of her salary for living costs. The houses we want are two-family, but none of the rent we would receive from them will be enough for her to live in comfort financially. I am partly on her side but am willing to take more of a chance. We are first time home buyers who would like to use FHA but the low down payment makes the monthly cost so high.
So I am shifting gears.
We are currently renting. So I am thinking of buying a townhome, where I can put enough down to keep my monthly housing bills either the same or lower than they are now. So I am wondering, is this a good idea in the interim while I save more money? Is it best to continue to rent instead? I would appreciate your opinion or any articles you think might help. Thanks!