Condo for college

Louisiana - Daughter is freshman at LSU & needs more space than dorm. Thinking about investing in a condo, hoping to not rent away 18Gs in next 4 years (5 yr program). Factors: 1) I do not have deductible interest so I take std. deduction 2) Condo costing $60 Gs probably won't change that 3) expect to rent to roomie at $250/m. 4) daughter has $13,000 in UGM account 5) daughter will have little income while full-time student, so I'll continue to claim her as student/dependent 6) one more year of $1500 hope education credit
** Goal to at least break even on condo purchase price and lose minimally in interest on loan to cover purchase. Better than sure loss in rent?
Q1. Any advantage in making daughter part owner? Q2 would that disqualify her from future first-time homeowner status even as small % owner

I hear lots of people have done same, but would like advice before I leap-thanks
Also - LA has homestead exemption (from state taxes). Others tell me 18 yr old can be a 1% owner and qualify if principal residence.

I'm sorry I can't answer your question specifically, but you might want to look into the FHA Kiddie Condo Loan. I believe for her to qualify, the only thing she has to prove is full-time academic status. You do the co-signing and she pays mortgage instead of rent and has something to show at the end. I wish I had known about it before I started school!

Good luck!