FHA loan with a 50/50 partnership with someone?

[Brett Riemensnider]

Hi everyone,

I’m looking to buy my first investment property. At the same time, a very close friend of mine wants to buy his first home. My goal is to present him with a 50/50 partnership on a single family or up to possibly a triplex in which he would be one of the occupants.

Would we be able to use an FHA loan to get locked in at a 3.5% interest rate? My current mortgage is not FHA.

Who are the right people in the real estate business that I should be reaching out to for more information before I present my idea to my friend?

Thanks.