I have been reading how tenants appreciate one bill more and more, but I do not know if I could charge a higher rent in this particular market, which includes heat, so billing it back might be the best way.   

Do you think going with a short-term interest only loan is better than starting with a conventional 30 year loan as the initial loan?

Would a conventional FHA work as long as we lived in one of the units? 

For example for my sister in law we charge a 10 percent monthly fee for a 4plex, no leaseup fees even though the renter gets charged a 200 admin fee so we are making 360 a month.

Are they a hard money lender or conventional?

what are the advantages disadvantages for somebody trying to exit early with having conventional loan versus having interest only for the first three years.Thanks in advance!

If I do would I still have the mortgage payment charged to my personal checking account since it would be my permanent residence as well as an investment? 

Will that impact our ability to get conventional loans and/or work with hard money lenders at all?

You could always go conventional on the next one. 

It's not conventional financing and the rules are made up by the individual companies.