(Even went beyond the second page of Google.)I have an investor who wants to partner on a deal by providing a loan for the down payment.

Explain your situation, your looking to "get in" and would love to just buy em a coffee and pick the brain of a local "pro" for a bit if possible.

Quote from @Sri Reddy: We are a team who are venturing in to constructing a multifamily unit from groundup.We don't have any prior experience in construction and are looking for financing loan options.

I have closed three loans with The Mortgage Shop.

The Note/Mortgage for each loan states the dollar amount invested & the % of the total loan by name, for each investor. 

After two years, you can qualify for a loan or continue working the seller-finance angle. 

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

Or should I invest regardless of student loans if my hope is to use FHA loan for smaller downpayment and then eventually rent the house out in a few years once I move?

There is no SST and makes it easier to house hack 3-4 unit properties and you can use that loan repeatedly while with FHA loans you can only have one at any given time.

The loan is a construction loan (interest only on the drawn amount) that converts to 30 fixed (3.375%) upon CO.