Some great stuff above. But just to add my two pennies -- get your own real estate agent, and explain exactly what you are looking for. The MLS is also online in most cities, so you can do your own hunting as well. But your own agent will help steer you away from bad deals and work in your interest.

If she's good, that is. Remember: the agent (even your own) works for the SELLER. The bank works for YOU. I know it sounds mixed up, but it's true.

Before digging into the legal issues of buying with a friend, you might look at condos. That's what I did. After carefully reviewing pounds and pounds of financial statements and CC&R's and so forth, I was able to pick a great complex on very sound financial footing. (That means no additional monthly assessments down the road.)

Not everyone likes condos, but you never have to mow the lawn on a beautiful Saturday! :)