because he's not chinese, I type my advice in English.
It is always risky to combine personal affairs with business. A business deal has to be evaluated on its investment and return alone, It's a good deal or bad deal, simple. If you mix in personal gains/loss, often times you'd misjudge a bad deal as a good deal.
The boy's deal is not common. However, a really common example is buying a vacation beach rental, the plan is you can use it for beach vacation and rent it out when you are not at the beach. While a beach vacation investment and return can be easily calculated by itself, many people mistakenly added their "money saved staying at beach hotel" into the calculation, thinking that as long as they added the money saved the deal make sense.
This would be a mistake. Things change, maybe you'll rarely go to that beach location, maybe your friend's son and his friends got other jobs or got married and they couldn't live in that house. Then they'll find out the deal might be a bad deal when they cannot save rent money anymore.
So the advice is, take out the personal rent saved, and evaluate the deal on business alone. Is it good or bad. Only do it when the business can stand on its own.