Question with Airbnb

[Devin Scott]

Question,

I have a friend in Orlando, FL wanting to buy a townhouse 12 mins away from Universal Studios.  He plans to rent it out with Airbnb.  He is noticing that most investment properties ask for 20% down for a loan from the bank.  He is thinking about saying he lives there sometimes (which he will) and buying it as an owner occupant in order to only pay 5-10% down for the property.  Are there any stipulations that he needs know or look out for in order to not get caught with fraud?  HELP!!