No. You can't buy a 5-user license and split it between two locations. Technically, you are one user (locations) and your client another.

You can buy a license for your client, but for the sake of keeping an ordered paper trail, I would suggest your client licenses it themselves.

i know some eulas dont allow this, but - given its allowed by the eula - you could buy one license, design the whole stuff, delete the fontfiles from your computer (including backups) and then the client could install the font - right?

of course problems will come up if you have to design something for them again, and they have to delete all the fonts on their computer, give you the license, you do it, and the whole thing starts again… but i work for many startups and getting them to pay for ANY font is hard - this could help ("lets just take arial", erm).

Transferring is allowed by some EULAs. So, technically, yes, you could do the work and when you are finished transfer the rights of use to your client. Because I'm paranoid I would always call the foundry before licensing and let them know what I'm planning to do. Let them answer that it is ok. Cover all bets so to speak. Then when you are going to transfer the fonts, get back in touch with the foundry again and ask them how they require you to do it.