Most banks only know how to do owner-occupant loans.Find a mortgage broker that works with investors. 

PM/Email me if you'd like to talk more :)One last thought...another place to consider if you haven't is Fairmont due to Fairmont State and close access to I-79, and they don't have as restrictive zoning and permitting and occupancy standards as Morgantown proper.

So that all furniture and decor will match for the tenants…keeps it open to the maximum number of potential occupants

I would also encourage you to reach out to local furnished rental investors to ask about their experience with occupancy. 

When you go to sell a SFH the most likely buyer will be an owner occupant paying market value determined by comparable sales, not rent produced.6.

First of all, fha loans are for owner occupants only.....you have to sign affidavits that you will live in the house for at least one year.Draw schedules are similar, or better, to draws a contractor normally gets.

If I added my adult son to the purchase and/or LLC, could he live there & satisfy the owner occupant requirement and therefore enable us (my wife and I) to qualify for the smaller down payment? 

The property was stabilized (95% occupancy) and had a lot of value add potential.

What would be some of the reasons why Landlords would not allow fitting more people into the existing structure if they are likely to get their property occupied faster and higher occupancy rate including guaranteed income ( Not all tenants will leave at once so, there will always be the source of income ) ?

Time and again we see developers establish a budget for a new project, but within two years of full occupancy, the maintenance fees double because the budget was not complete and/or relied on inaccurate numbers.