These are easy to separate out for tax treatment.  

I'm a life agent and this doesn't sound ethical to me at all. 

Agents not having the experience in our field, combined with not having the oversight of professionals held to higher ethical standards (CPMs, GRIs, RMPs, MPMs), will most likely not have your best interest in mind but only that ultimate commission.

Maybe you can make up for that with hustle and a hard work ethic.  

The strategy is best described in Joel Greenblatt's fantastic book, and an outstanding practical guide and tool for executing it can be found over at the Magic Diligence website.You can do either (or both) of those using the "leverage" of Options, allowing for substantial upside potential compared to standard stock purchases, with dramatically reduced downside (if you want a no-hype education on Options, Erik Kobayashi-Solomon's book is great).Those with the patience and inclination can indeed use Option trading to make money in any market condition (Wikipedia founder Jimbo Wales, Amazon's Jeff Bezos, and "Black Swan" author Nassim Taleb all spent time -- and made lots and lots of money -- as options traders in their careers).For even more leverage, you could of course do any of the above (and much more) on margin (meaning your brokerage lends you money to do the investment), though that's not something I would ever do personally.Also, if you focus on holding stocks (or options) for at least a year, you benefit from favorable tax treatment of the profits.

I can personally vouch for his work ethic and integrity. 

Yep, those of us with assets get special IRS treatment.

To quote a well known REI personage, what we're doing is "moral, ethical and legal."

I am told they don't offer any favorable treatment for multiple properties, is that common or are there landlord friendly co's that taper their pricing?

You know yourself, your work ethic, and your level of commitment.