@Garmeon Y.FHA is for owner occupants exclusively, so its not a program fro real estate investors and even for owner occupants only applies to 1-4 units, more than that don't qualify.

I have to say that this sounds fishy....is he bringing anything to the table to qualify as a " co-owner, owner occupant?"...

This will also tell you what the  university educates students on regarding off campus housing.Check out if there are local ordinances regarding noise , unrelated occupancy limits.

This is a 60 days notice to vacate for personal occupancy.

I'll just post the link instead of reiterating what was said in the thread :)https://www.biggerpockets.com/forums/49/topics/114510-fha-owner-occupancy-requirements---less-than-one-year

Buying a 2-4 unit as an owner occupant will get you the best deal to start if you are planning on moving here, this will also allow you to establish a rental portfolio in US.But you can still get financing as foreign national(on a visa), just with lower LTV's.  

Start at market value and then discount based on occupancy and repair costs.  

You don't want to build things that wont pass occupancy.

@John GarciaI would def check with the regulatory body and first make sure everything is ok to do RUBS as you indicate it is , but additionally, verify what their accepted metrics are ( i.e. square footage, bedrooms , occupants).  

He also said in a story I listened to last night that multiple units of about 18 units can still make debt payments, hire Property Managers and do not have to have 100% occupancy to mmake debt payments and smaller complexes are just as difficult as single unit houses.All neighborhoods are different and the demand for houses as rentals can provide you with an answer.