Debt to income ratio and FHA loans

[Branton Stanley]

I want to use an FHA loan in order to buy a triplex or fourplex. I know I'd have to live there until I refinance it, which I'm okay with. I could also get enough money for the down payment from some family. The main problem I have is that my income is so low. The income from renting out the other parts of the fourplex would more than pay for the mortgage each month, but I read that in order to qualify for the FHA loan, I can only have a debt to income ratio of 31% or less and with the mortgage and my current income it would be more like 150-200%, which obviously the banks won't like. What can I do in order to get the fourplex now, without having to quadruple my hours at work?

[Sean Tagge]

So I just got a duplex and made several offers on 2-4 plexes. 

For an FHA loan the house needs to first be in good repair and be up to certain FHA safety standards.

When I was going to my loan officer before making offers, I could count 75% of the other units rents that I would not be living in as my income. Thus allowing me to get a higher price range 2-4plex than lets say me buying a Single family residence. 

-Also @Branton Stanley I dont know where you heard you have to refinance your FHA loan after you move out I never heard that at, all I heard is that you only have to live there for a year commitment and you do not need to refinance your FHA loan out after you move out you could just keep it in place.