Can I have a co-signer just “on paper” for a bigger FHA loan?

[Milos Vranes]

Hi everyone, newbie here. I just started educating my self on real estate investing and I really love the idea of house hacking especially with quadruplex. The problem is, I could only qualify for about 300k which is not nearly enough for that kind of property in Naples Fl or any other places around it. 
My question is: Does it make sense to have a co-signer just on paper to boost the loan amount, and then offer him/her a small percentage of the rental income for the signature? Downpayment money would be entirely mine. 
Or if anyone has any other suggestions?