If Ico-sign, does my income count for mortage

[Nelson Kaeb]

Recently talking to a buddy, he plans to move out of state for med school. A method of investing was brought up where basically he would cover the down payment on an FHA loan, for a duplex, triplex, or 4 plex, and live in 1 unit rent free. I would then pay the monthly mortage, expenses, taxes, ect. I would keep payment from other tenants until his 4 years of schooling were finished at which point we would negotiate a split of the cash flow. Assuming we found the right property to cashflow/break even. Does this seem possible? My other question.. considering he would have little to no income during school, if i co-signed on the loan could my income cover the banks mortage requirement?