First time investor looking for some answers!

[Jordan Sellers]

Hello! I'm new to this all and have a few questions I'm hoping someone might be able to help me figure out.

I'm trying to purchase a 3 bed 2 bath house in a college town. It currently has tenants but I would most likely seek new ones as they are the current owner's relatives and not paying much in rent. I have enough for up to a 20% down payment but that would stretch my finances fairly thin. The house needs some work but mostly just new carpets/floors. I'm a first time investor and would like to "house hack," so I can establish residence there and at least cover the mortgage with the other rooms.

The real questions that I don't know how to answer are the due to the fact that I'm a 1099 and have been for years. My work is seasonal and I'm in the off-season so I don't have much other than my word to say I'll have an income this year. I have a blood relative who is willing to co-sign with me or take the loan out in their name. Should I try to secure a FHA first time homeowner's loan so I can put a smaller payment down? Would they even consider me as I have an odd work situation and would need a cosigner? Or would I be better off seeking a loan through my family investor and putting down a larger deposit?

I would be so grateful for any kind of advice or knowledge! Thank you!!