Thanks everyone for answering =]
it was just an idea that came up to me a couple of month ago, i know buying a house is not as easy as it looks like, i thought about other expenses other than just the mortgage, i figuered with the tax and other bills it would cost at least $1500/ month,thus the planning of renting it to 3 people.
once again, thank you all for answering, i'll be doing a lot more research on this.
btw, hows the fishing in waterloo area?