The condo looks well lighted and ventilated. do i have to worry about pests?

Yes - don't forget about the little things....carrying costs - which is not just the mortgage, but also heat and electric...closing costs (always more than you expect them to be)...minor things that add up...ie - mulch in the yard,new smoke detectors, light fixtures, dump runs, whatever.

Since it's your first home, you are likely to underestimate home ownership costs--light bulbs, new window, drapes, broken pipes...

Your asset is appreciating and that mortgage is making you wealthy.In light of this you're in a very good position.

There is good progress out there with the new light rail system in Charlotte, but the market already hit its boom a year or so ago.

Since you are also familiar with condos, would you recommend a rehabber start with light rehab, such as in a condo?

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Use "hi-hide ceiling white" exclusively for the ceiling, then your walls should be generally any "off white", beige, cream, or whateva...just LIGHT in color.

Before you warn me of the pitfalls of investing with friends, please know that we have thought carefully about this and understand what we are possibly walking into.That being said, here is the situation: there are four parties involved, and together, have about $300,000 for a down payment.

You know what, Im going to keep the hole ( window ) there, and maybe add something stylish, just for natural lighting reasons