<human>: Can you give me a shortened version of the text?

Here's a little background for context: I was fortunate to get a job that put me into the high middle class income bracket. My siblings and parents are able to support themselves financially because everyone is grown up but we grew up below the poverty line so I am always cautious about money and fearful that this situation might be too good to be true. My parents don't have any savings and basically their retirement plan is to live with one of us. 

Anyway, I am deciding between buying a house or to continue renting. I want to live at a nice apartment so I'm willing to pay up to 1200 for a 1BR. However, for 1200/month I can potentially buy a 310K house in a location near the university. But I have about 40K in student loans w/ an average interest of 6%. I also want to buy a car because I am currently borrowing my mom's car to go to work. I have 10K in savings, contribute 15% to my company's 401K and after bills have a net savings of ~2k per month. 

If I buy a house, I would be taking out a 300K mortgage and then have a 30K car with 40K in student loans with a total debt of 370K. However if I rent I will be paying 1200 per month with 70K in loans. I think buying a house would be a good investment because I anticipate the house to increase in value and I can potentially rent out 1-2 bedrooms reducing my mortage to about ~400/month. However I'm afraid that 370K is a lot of debt and that would be spreading myself too thin since I have no safety net if anything bad happens either at my job or with my family. I plan to stay at my current area for the next 3-4 years. What should I be considering when I'm thinking about buying/renting? Should I potentially live in a cheap $700 apartment and save more money til I have at least 20-30K before I revisit this decision again? Any advice will be appreciated.
<bot>: rent or buy? 70k or 370k in debt? My family is poor so I have no saftey net if things don't work out.