Even minimally.

The reason I even ask is because I do have a clear understanding of how loans works, or should work.

The property itself should bring in revenue ( even if you choose not to live in one side) and generally a bank will accept a portion of that rental income into the calculation. 

Even if it is for just 2 years.

This friend and I have done 2–3 deals together, and there’s never been a payment dispute or even a hint of cutting him out of something.

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

When I was in college, my landlord would just walk into the house uninvited without even knocking.

I've read many of the BiggerPockets books like - House Hacking- Flipping- Estimating Rehabs- Multifamily Millionaire Book I and II- How to Invest in Real Estate with Low or No Money Down- Investing from a Distanceand even some outside of themand have been wanting to do something in Real Estate for awhile.

You can't charge extra pet rent or even a pet deposit because it's legally not considered a pet.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.