buying a property with a friend?

I’m a late 20s single mum (one child, father not involved at all) on an income of roughly $125k, and my best friend is also single on a similar income.

Neither of us has any desire to couple up, and after lamenting the state of the property market, realised that together we would rank as a ‘high income’ couple, relative to the average.

Both of us are likely to have our salaries increase to the $140-160k mark in the next 2 years based on the averages within our industry.

This has got us seriously thinking about linking up to purchase property and get ahead without traditional relationships.

We’re both fairly savvy and would get lawyers involved to ensure both parties were protected, but can anyone shed some light on the upsides/downsides of this plan?

extra info: I would come with a larger deposit, but she doesn’t have a dependent if that helps.