My buyer's plan is to live in it and use the equity a few years down the road, whether is HELOC or a cash-out refinance, to fund other deals.

It really comes down to your level of risk, how much you want to spend, how knowledgeable you are with the area, and if you want to be hands on or hire a property manager. 

@Nicholas Olson So, let's understand your question, you're asking if you can STATE on a federal loan that you will be living in one of the units, but you then plan to rent out all the units and NOT live there at all?

What price point do you plan on targeting for this purchase transaction? 

@Bryan Galaz the purpose of a HELOC is to use that money to invest, but you must be disciplined with putting the money back and not spending it on a vacation or expensive car. 

I am still at the planning phase and we can connect.

I want to build my way there through rentals and as time progresses, I plan on building multiple other streams of income down the road outside of realestate.

So if you don’t want to spend 12 months completing one deal for a $2,000 gross profit and investing 1500 hours to do it, you’ll need about $50k to carry you until deals start closing.  

Listing on AirBnB is still an option, but she should set her minimum stay to 16 to avoid any issues with the city.If her rental is in Hall county, but not inside the city limits then using shorter-term stays to fill in the gaps between MTRs is possible, but there are specific licenses that need to be requested from the Hall county planning and development department.Northeast GA Medical Center (the hospital in Gainesville) does not directly provide housing to travelers.That is usually handled by the traveler on their own with a stipend given by the traveler's agency. 

(That’s how much you have to spend.