67 PA28-140 partnership, should I?

[Mike1A9]

I have a friend who bought a 67 PA28-140 before he has even taken a lesson, actually bought it on a whim. He is now finding out the reality of owning an airplane. He has asked if I would be interested in becoming a partner. I am actually looking to buy a plane soon anyway, so I am considering it. My question(s) is, what are the "gotcha's" that I need to be looking for, not about the partnership, but the airplane itself?

 

[daviddancer99]

 

[rrc1962]

 

[arkvet]

 

[EchoDelta]

 

[sierrakilo99]

 

[cunnlarr]

 

[raymos]