There would be a pro-ration if you moved back in after moving but it doesn't sound like that's the case....you will owe recapture on depreciation taken, but not capital gains. 

Remove emotions from your investing decisions and think very rationally.

Based on your experience, in general, what is the rational or the steps in getting into a new market.

Basically, he is able to avoid all the bank requirements and cut out the middle-man syndication. 

Those are the organizations that are highly likely also going to support finding their hires a place to live and if you can connect with them and become a preferred vendor, you've cut out the middle man i.e. furnished finder.

The kids on your Facebook profile need you to stay rational and provide for them.

It's a great example for REI's not analyzing markets correctly, rationalizing their weak analysis, and then chasing that "shiny object of distraction". 

And the above examples I don't think are good analogies - renting a crane and using it for other productive work is not the same thing as renting something and just pocketing the middle man fee.

Just cut out the middle-man. 

This may have changed, but the rational was gym goers stay for hours, tying up parking.