I took on a partner on a joint venture recently and while we could have done a 25 year with interest only period to boost our cash on cash return we choose to do a 20 year fully amortized loan on a 6 year ballon to maximize internal rate of return.

Back then everything had dado & rabbit joints, solid wood all the way around, plywood drawer bottoms, etc. 

If all of them are joint and severally liable, and their income and debt ratios otherwise qualify, this would be the equivalent of a stay-at-home spouse with no income. 

For example, you could use your $35,000 as part of a joint investment where both parties contribute either money or expertise.Creative Financing: Look into seller financing or other creative financing methods where the seller of the property helps to finance the purchase.

I believe your looking for a joint venture agreement right?

Each roommate/tenant was jointly responsible for the whole apartment as well.

They are jointly responsible for the lease.

Link for “ Investing in Real Estate Private Equity: An Insider’s Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding" by Sean Cook

If all your roommates are also 30+ days, is it not unreasonable to draw up a joint lease between the people for the whole house? 

@Kelby Schimming - Raise the money from a partner or partners and joint venture the property via a shared LLC.