Analyzying a multi family home with an FHA loan

[Sergio Castillo]

Hello, I am currently looking to purchase my first home. I want to take advantage of the FHA loan and house hack with a multi family home with my brother. We are both first time home buyers. We were thinking of looking into a fourplex in either Albuquerque or Rio Rancho, nm. We also only plan to live in one of the units for the 1 year required by fha. Our goal is to have a cash flowing property after we move out and at the least live rent-free for the year we live in one of the units.

What would be some good things to take into consideration when analyzing the property?

What would be some things to factor in when analyzing a property due to using an fha loan.

What other strategies would be suggested for my brother and I looking to start out with multi family homes? Would it be recommended we each use the fha loan for a duplex or triplex each? Or would it be best for both of us to go in together on a fourplex? 

if we both decided to use the fha benefit together on a fourplex, would that mean that we are both now unable to use the FHA loan benefits or would we be able to use it on two projects since it is two of us.

My brother and I are partnering up in Real estate and are going all in.