The additional posts and suggestions have certainly opened my eyes. I thank you for that. Initially I thought it would be good to diversify my portfolio while assisting my sister in stepping out on her own. She is now gainfully employed as a nurse. While not at the point of shopping for a condo, she is interested. I've been "coaching" her on getting her financial house in order - paying off credit cards and remainder of car loan, establishing a budget and monitoring monthly cash flow. From there, the intent was to determine what she could comfortably afford while not setting herself up to be house-poor. While I believe she will be able to qualify for a mortgage loan on her own when the time comes (student loans do remain, however), the initial thought was to co-invest to diversify my portfolio and take advantage of the market prices. However, the risks that everyone has so kindly highlighted trump the diversification and portfolio enhancement real estate would make at this point (at least for me and in this scenario).
I guess I value having a sister more than a lower mortgage rate and payment for her.... I hope she feels the same!