I had a buddy lose a place because he didn't factor this stuff in.I think you're right with your analysis.

I have two properties in the Fort Bragg area that are being managed by a battle buddy of mine that I have served with for over 10 years.

Our grandson loved his sessions & we had a hard time getting him to leave the activities & his buddies.

My buddy had this happen in one of his rentals, a murder/suicide.

I'd approach your buddy with a 30% down payment and have him owner finance the rest (w/no earlier pre-payment).

You'd never know it wasn't sheetrock until you tried to put your buddy's head through it during a raging keg party.

My buddy with 40 units paints his units something other than Navajo White. 

One of my buddies and I are looking to get into Real Estate Investing and have come across many articles and advice on starting out with a live-in duplex as an investment property that can be financed using an FHA loan and eventually rented out after a year of living in. 

Just find the right place and run the numbers as if it was being rented to a family instead of "will it work for the first year with 3 of my buddies renting rooms."  

Seems like you met Lisa already.Terry Did you see your buddy Bill has ventured to the dark side. 😂 🤗🙁.You may be right for all we know.