Hey guys, I'm 24 years old living in NJ, looking to buy my first property because I want to get some sort of investment going. I have a stable government job where I make $70-80k depending on overtime. My best friend is also looking to invest and we thought we should buy a house and rent it out. We are not looking for passive income out of the rental. Just would like to own something that can help grow our net worth. I would like to use this to offset the rent I throw away every month. And I know you guys will say to move into the house but I'd rather not. The place I live has sentimental value for me and it's really cheap for the area and I don't want to let go of it. And then maybe another 5-7 years down the road, if things go well, we will buy another place. He also makes around the same amount of money. So total income is about $150k, pretax. Decent looking 2br houses that I have looked at in the area go for about $150-$175k. We have more than enough savings to cover the down payment and be able to pay the mortgage for a while in case we can't find a tenant right away. He lives at home with parents and I live in a cheap apartment with roommates so that would not be a problem. And also, before all the people start trashing the idea of working with a partner, that's not what I'm looking to discuss here. I don't have any hesitations there. I've known him since I was in diapers. We are family. Not worried about conflicts there. Just would like to know if it's a sound financial move here. Any pieces of advice in regards to type of mortgage, location, tenants, etc would be appreciated. Thanks in advance.