Buying second house for student daughter

[DaveOrange]

My daughter has just begun her first year at Birmingham uni. This year she is in student accommodation on campus for which we have paid. I have enough savings to put down a 50% deposit on a 3 bed semi and intend to take out an interest only mortgage for the balance. My thought process is that my daughter can then rent out the other two rooms and live off the proceeds. Once she finishes uni in 3 or 4 years I will then sell the property hopefully for a profit.

The cost of this is 36 x monthly interest payment + stamp duty and legal fee's for both buying and selling the property + cost of furnishing the house + lost savings income - any gain on the property value.

The upside is she will have bugger all student debt when she finishes her course and wont have a dodgy landlord and I might well make a gain on the property

My questions are

1. Is it worth it?
2. Can she receive the rental income despite not owning the property. I know this is taxable but can she use her own personal allowance?
3. Can I offset any of the expenditure against my own tax liabilities.
4. What have I missed?

TIA

[DaveOrange]

Thanks all some good advice and plenty to consider.