I'm not exactly sure how an LLC works, but I think it is slightly related to this situation, could I use an LLC to evenly buy the house 25% each and with how I think they work, could say if someone wants out, another person can buy their 25% in the LLC? Correct me if I'm wrong, I am not even close to sure.

So what your saying, is it is feasible as long as you have a bullet-proof plan in order?

I found the average price of a roof replacement in the area to be about $5k to $15k, so if we all had this amount saved, would you consider that to be safe?

What if I found a situation where the numbers work that 2 people would be able to cover the cost, but we still use 4 people equally 25% each? In your opinion, would that work?

I calculated 1% of house cost per year for repairs (I found that number somewhere online) would this be a safe number to use to put aside for repairs?

What makes you believe this rather than the slue of problems most other people are posting?

What I budgeted was only for room at college, I didn't include food, but all your other points I agree with.

You raise multiple good points, would you recommend we rent a home that is would cost roughly 1k/month and split costs, because that would still cost significantly less than room at college.

I honestly don't see that working.

I've never thought about it like that, it is kind strange how its a sort of double standard.

You can use your parents to help with that, correct? (the credit history part)

If it is feasible, what improvements would make it smarter/safer, we did think about buying a much cheaper house, like 50k, but thought buying a better 100k house would 1: be a lot cooler and an overall better experience, and 2: be easier to sell after 4 years.

Also, I made a spreadsheet, just wanted to say that because I am proud of it.

I'm not sure, I was hoping to find that out in this question. What exactly do you need to qualify for a mortgage and I've read about LLCs would making one help us with this idea?

The university I go to has a nice co-op program for the engineering major with an average of $19/hr salary while in college, I've found similar part-time jobs for over $20/hr that are definitely feasible in college, I used the very conservative numbers of $15/hr and 15 hours per week in my estimates, meaning even a job at McDonalds could make do. It seems as though there are many options and with savings, it should be very doable to pay the mortgage payments. If you have reasons for your comment, please give them or a scenario that maybe you or a friend went through that can explain it.

I looked at the cost of places to rent in the area, and it looks like it would be about the same cost, meaning it would cost about the same as buying room and board at the college. By potentially buy a house, we would pay less than half.

We were planning doing everything 25% of if there were more people completely equally (including the payments). Getting things in writing was gonna be one of the things we would do if we were to go through with this.