I owned 2 houses, and one condo. I started a business on $35,and expanded it to 4 branch offices in 3 counties. I graduated from college with a BA, and went to graduate school, where 25 of us were forced out because of Affirmative Action.
Renting in some ways is better than buying. I've done both. Both have their goods and bads. With renting, you get more for your money. My previous complex has 2 swimming pools, jacuzzi, exercise room, tennis courts, basketball court, clubhouse, computer room, walking trails, recreation barbeque area, etc) You get free maintenance & repairs. Refrigerator goes bad, they give you a new one. AC konks out they fix it, or replace it.
If your friend wants to sell those guitars, I might be interested to buy them. I played in a rock band for 9 years, and I teach the guitar now (also violin & mandolin).