It's totally possible! Assuming you're moving into one of the units, the FHA loan programs will take rental income into account to qualify for you for the loan. For 2-4 units you can put as little as 3.5% down.
Important things to note: While you get a small down payment, FHA requires that you pay PMI (private mortgage insurance) on top of your mortgage payment, taxes and insurance. For example, if the loan is $417k, you multiply that by 1.25%, divide by 12 months. The total PMI is $434/mo. that you'd have to add on top of your regular mortgage payment.
I was lucky enough to buy my first house in 2003 in Highland Park when you could still buy a house in the 200ks. But, if I had to do it all over again, in this market, Iâ€™d definitely buy a duplex-4plex because it just makes more financial sense for first-time buyers to have renters offset a big part of your mortgage.