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Is it worth it to co-own a house in a HCOL area?

Living in LA area. Family member offer to sell half the house that's worth 1.2mil. I will pay $600k total. They will let me pay $300k down payment and $300k loan at 3% interest rate for 30 years. Of course everything will be in writing. I can live in the house all by myself and give them half of the total rent. The market rental rate for the house is about $4k and I give them $2k a month. Is it worth it to take this deal? I can't buy the whole house by myself but buying half the house is doable to me at 3% rate that they offered.

Let me know what you think.

submitted by /u/RainSparro
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source https://www.reddit.com/r/RealEstate/comments/1hhnpxh/is_it_worth_it_to_coown_a_house_in_a_hcol_area/
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