5% down on a fourplex

[Tyler Peery]

HI! I am new to investing and want to get some input on a strategy that my experienced real estate investor friend told me about. 

Is it possible to get a an FHA loan on a fourplex? It is my understanding that with an FHA loan, the buyer can put as little as 5% down and in some cases even lower. If I am planning on living in one of the units, is this something that is possible? If so, what steps are needed to get there? What is a conservative dollar amount that I should I have in savings for a deal like this?

Thanks!