Condo or Small Multifamily NYC House Hack?

[Nicholas Flores]

Good evening everyone!

My name is Nicholas Flores, my wife Sonia and I are from the Washington DC area but I have been recently offered a position to relocate to NYC. My wife and I are deciding on whether to buy a condo, or possibly a small multifamily (duplex) as our primary residence, in one of the outer boroughs or possibly in Manhattan if we can swing it. My question is, if we decide to go the condo route, is it true that the down payment requirements are 20%? If we decide to go small multifamily or (2 unit townhome) should we be able to do a FHA 3.5% down loan? If we do decide to go the multifamily route, do I need to register the property as a rental in NYC? Are there any other questions or concerns I should be thinking about? NYC seems like such a daunting market to learn, but hey like Ol' blue eyes said "If you can make it there you can make it anywhere". Any and all information is greatly appreciated

Best,
Nicholas