12 hour days are somewhat of a myth. If you're there 12 hours, the IPs have to be there 13. So...will you have 12 hour days? Absolutely. Will it be every day for the entire duration of your time there? No. Keep in mind that YMMV depending on the IPs running your flight.
When I left in November, they had just changed the policy requiring single Sailors/Marines to live in the BOQ. If the BOQ is at 80% capacity, you can get your name on a list to get off base.
Call the housing office or the NATU, they can answer these questions better than anyone.
Bullshit the 12 hour days are no myth. Like Hacker said, they will definately be for at least the first 2 months. Depending on how your class is progressing, your flight commander at his or her discretion has the power to shorten your days. But as soon as you fuck something up again, and believe me you will, those 12 hour days come right back.
Yes, the instructors don't want to be there any longer than you do, but it was quite obvious that after a couple of weeks, they developed a system so that not all instructors had to be there 12 hours a day every day. On top of that, the program is developed to be run that way. So the flight commander is not going to shorten the days after two weeks just because him and the instructors don't want to be there the whole time.
It sucks but there are plenty of benefits to it. You get constant exposure to studying, instructors are always available to answer questions (not so much in Navy training) and once you get home, you generally don't have to do any work. Don't forget, once you hit the fleet, your days will become very busy.