Am I only allowed to do so many before being seen as a business and needing to get some sort of license?

I'd look in the nicest neighborhood you can reasonably afford ... smallest, most run down house on a really nice block sort of thing.

Is there some sort of consequence or something that goes on someone's record if they've been evicted? 

The Fair Housing Act does not have a training requirement for service or emotional support animals, and just about any sort of animal can qualify.  

Doctor office,karate school,restaurants,hair salons, dentist, cell phone stores,etc.These are places customers are actually going day to day to do business.

Then it finally hit me that someone had been using it as some sort of multi family setup. 

Being a college student, you do not need to show two years of previous employment history, as being a student trumps any sort of required employment (you may have to provide transcripts).

I'd think the chances are good that most everyone in real  estate can pluck out some good information that could yield  savings many times over the cost of a book.That takes me back to see an accountant sort of, the more you know and understand the cheaper professional services might be.

That sort of analysis helps put things into perspective when I am balancing different options.

Your advice here will help tremendously as I sort through various loan options.