Is This Version of House-Hacking Viable?

[Kenny Rains]

I am looking to purchase a multi-family home in Q1 2018. One strategy to accomplish this goal is to purchase a duplex along with my parents. The duplex would not be an investment property for them as they would use one side as their primary residence. My parents have never owned a home and growing up we always lived in a townhouse and they later moved to and from multiple apartments once my sister and I moved out. I believe home ownership scares them because they are not familiar with the process. My parents would be primary on the loan and I would be a co-signer. They would get stability as they would own the property and I would benefit as the additional unit would be treated as an investment property. I would pay all of the applicable costs related to purchasing the home and since my parents have never purchased a home there should be several loan products available to them which would omit the investor required down payments. Also the mortgage for the property would be cheaper than their current rent so making the mortgage payment should never become a burden. I would essentially be house-hacking only my parents would be living in the property.