Apartment hacking in Baltimore with a Twist

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Quick question:  We want to do a "house hack" with an apartment building.  Simple right!  

Here is the twist!  Can we still get the 3.5% down if it's structured with my friend being primary on the loan and myself secondary as a business entity?  My friend will reside and I'll manage.  This is to avoid paying the 25%-30% down payment when using a commercial loan. The less amount of equity out of my pocket the better. We want to do a 5-12 unit building in Baltimore, Pennsylvania, or Delaware.

Thanks BP!