House hacking Brothers

[James Dempsey]

Hey guys and gals, I am graduating in a few months and I'm planning on house hacking a duplex or Triplex to start out. I used to rent a duplex with my brother, and today I saw a Triplex for sale on the same street. 

I'm not making much money right now, but my brother has a decent job, and between us we should be able to get the down payment and closing cost $ together. Like I said, I graduate in April (I'll be making good money by May) but I have some grandparents that have enough money to front us for the down payment. 

Would it be a feasible idea (as long as the numbers work) to co-sign with my brother, using the down payment from our generous grandparents, and to try to get pre-approved by our lender for an FHA loan? Or should I just wait until I graduate and can do it all alone?