Low salary mortgages for rental property!

[Kyle Pelech]

Happy New Year!

So I am starting a new job and looking to buy my first property. It is within the government sector and I will be starting at around 42k a year in NJ. Slow increases until I reach around 120k after about 10 years. I know I will not be making much money at first but I am looking at some great properties in my area. For example how much trouble would I have trying to get financing for a 350k - 400k house? It is a property with 3 separate units, I would be living in one. I would like to take advantage of the FHA loan if possible in my situation and have my father co sign for me. Does this price seem out of my reach?

Unit 1 generates $1100.00 month

Unit 2 $1000.00

Unit 3 $1400.00

Thank you!!