He will get around $3,100 tax free Base housing allowance and will have $150,000 he can put down.  

Once again, this matches my personal experience that the larger, more expensive properties continue to sell better than smaller properties. 

Currently, my structure projects 8-12% IRR which stems solely from appreciation-based gains and has risks that differ from traditional REI or syndications.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

What we came up with was an infill product that matches what three story walk ups are in the multifamily market.

They generally have out of college/construction unseasoned folks doing the paper permit reviews from what I've seen based on the comments that come back. 

You already have US based credit so that is good. 

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

Yeah, it is based on the state's regulators.

I recommend selecting an investment city based on the following criteria.Key Criteria for Choosing an Investment CityRents Must Outpace InflationFinancial freedom depends on rental income growing faster than inflation.