EXCELLENT ADVICE! Take stock of just HOW important that friendship is to you. Since I came of age during hippie times, I remember quite a few folks banding together to buy affordable dwellings. I'm afraid the results were disastrous in all cases. Just make sure you and the others have drawn up a contingency plan to use in the event of divorce or unresolvable differences. Most of the folks I knew HATED the idea of lawyers, but all ended up needing them, and having to pay big bucks to get untangled.
Jeez, sorry for being so negative, but experience is a great teacher.

Rick