RE: Louisville KY - Necessity is the mother of invention...  

But a better answer would be when you don't have access to enough reserves (cc included as an absolute necessity) to weather a significant downturn in rent rates and vacancies while at the same time dealing with major unexpected repairs, that is when you are likely overleveraged.   

I'm currently paying rent in a cooperative work space that is not a necessity just so my 36 years young can meet guys like you.  

In your case, going in on a deal with family is probably a necessity.

Those carpets won't last as per their normal "replacement life", so you should account for higher than usual wear & tear- the general saying "yo, get yourselves a room" means it's your place, so you should not have a problem with the "noise" at times and be ready to vacate the place for few hours just because that's what good roommates do for each other when necessity strikes :)- "regulating" the place aka (no parties, no nasties, lights off by 11pm etc) means you will have no fun place for easy going coeds, and generally it will make it a "dork house", which is ok, but again, birds of feather stick together, you will have to match all occupants (they will match themselves too anyway), you get the gist.

An alarm system is a luxury, not a necessity.

It doesn't change the necessity to go through the BK courts to request and receive permission to sell.

It was a buy more out of necessity and convenience than anything else.

By now you know about the necessity to use a Licensed Mortgage Loan Originator, (MLO) in your transactions involving Seller Financing.

No silver spoon here.. what I did though is get a RE license at 18 and out of necessity and the desire to succeed became a top salesmen in my field and yes I have done pretty well at times in my career..