Download the sources and extract it:
tar -xvzf qemu-init-latest.tgz
qemu-init uses the qware build system. This provides a high and easy configurable flexibility of install destinations. By default it puts all files of a package into a single (home) folder, but could be easily configured to be FHS compliant. By default qemu-init doesn't run with root privileges.
Change into the folder with the extracted sources. Check out the file
conf-build  and change it to your needs. Before qemu-init could be compiled the user (default: qemud) and group (default: kvm) have to exist. Otherwise
configure  will fail. It is recommended to create user/group with the following options:
$> groupadd kvm $> useradd -g kvm -d /home/qemu -m -s /bin/bash qemud $> usermod -L qemud
The user is locked and doesn't require a password - it will never have to login interactively. As usual all files and folders in the home directory have to be owned by qemud.kvm. Ordinary users have to be in the group kvm to execute qemu-init commands. The commands themselves will run as user qemud - usually, with exceptions.
Furthermore set some install options. Some people may not want that this will be done automatically or an option is not required in general. An option is true if it contains any value. See the comments in
conf-build  for details too. To change the default install destination folders edit the file
To build qemu-init do:
./configure make make install