You are building a business... treat it as such.Here's a quick guide to help!

I treat them as rental properties during analysis and ensure that once I move out, it will still cashflow.  

There is no limit on the number of houses you can sell, with or without using a real estate agent.Sounds more like how you will be treated from a tax p.o.v. 

@Anthony Spera - Treat it like a loan.

Most student know that they should treat their home with respect or they will lose the deposit.

It sounds like he wants to be treated as a partner but only share the upside.

One year ago, a truck of treated plywood cost $20,000, and today it costs $40,000.

Might need treated for bugs.  

A disregarded entity is ignored for tax purposes and treated as if the underlying property is owned by the members. 

The choice to invest out of state has been the best decision I've made as of yet and it has treated us well with the opportunity to acquire and close on 6 properties in these past 2 months.