Thanks for the response!

I wrote the above for informational purposes.

Thanks in advance for your response!  

@Jan Styrczula Make sure that everything is laid out in terms of roles and responsibilities.

Thanks for the response. 

But since you mentioned your income I would assume you have a lot of responsibility at your day job.My advice is go conventional, a year and half ago they required a 10% down payment, im not sure what it is now. 

Thanks for the response

Just make sure you all really trust each other because if one person stops paying their share of the loan each month, then everyone else on the loan will still be just as responsible for paying it.  

Appreciate your insightful response.

Being that it will be my first investment property, I need help in determining if there will any hidden costs I may not know about that I will be responsible if I become its new owner.