FHA loan house hack HELP

[Jessica Mac]

Hello All,

So the idea is to try to get approved and go FHA into a multi unit prop,

My husband and I are planning to board my brothers sail boat and head down the east coast for a few months after that. Doing this "house hack" will enable us to take the time to make the trip.

I am looking for insight and maybe just for someone with experience to asses our situation!

We run a small business together and are filing our second year tax returns this spring. Ive been told banks will want 2 years tax returns when self employed. We gross about 150k a year and have done that 2 years in a row.

Problem is were THROWING MONEY AWAY on rent every month. Hence the house hack idea.

I would like to pose a few questions.....

1) is it really 3.5% down because that would be great

2) can we buy a 4 unit property?

3) how to get through a pre approval when your self employed

4) WHAT WOULD YOU DO ?

Cheers