Help with house hacking\FHA loan\creative financing

[Jeff Hall]

I'm a first time investor\homebuyer and I've been studying as much as I can in my free time (and of course listening to all the podcast​s on here) and I've come across a house that my friend is selling in Fort Collins that seems like the perfect place to get my start. It is a 5 bed 2 bath house, mostly finished basement with 2 rooms and its own entrance. It isn't zoned as a duplex but easily could in the future. We would like to move in upstairs and rent the basement which would cover about 75% of the mortgage (and later rent the 3 beds upstairs). We are just starting out in life, about to get engaged and our parents want to split the down payment with us since we don't really have the money ourselves. So I guess my question is... Is an FHA loan the best way to do this deal? or are there other more creative ways to do it (owner finance isn't an option). Thanks!