Accepting a "gift" as a downpayment w/ my FHA loan concerns

[Jacob Younger]

Hello,

So I am planning on using my FHA loan (3.5% down) for my first residential/multi family property (4 units or less). I would live in one unit and rent out the others. I know it's possible for me to accept a gift from a friend and use it to cover my down payment. But I want to know if it's possible for me to accept the gift from a friend (who is also a small investor, with cash on hand from his previous professional sports playing days) to cover the downpayment AND THEN split the ownership and the rental income from the property with him?