While you don't want to become a "professional student", you also DON'T want to prop your ladder against the wrong wall. 

My parents still have money saved in a 529 plan for me and I saw that they can use that for mortgage payments, but I am wondering if that can be used for the down payment (if I am still a student at the time). 

I plan on building my portfolio with possible student rentals (SF) or more residential multi's.

My plan to house hack is to rent out my single family home to students vs a family. 

However, once I leave the military I plan on being a full time college student and don’t foresee myself having a lot of extra time on my hands to be able to devote to a rental property or house flipping business, which were my original ideas to start in.

He says that in their internal meetings they are planning on an increase of around 1,000 students per year for the next 5 years, which is huge for a town of 18,000 people.Also, WVU Tech's sports teams are doing incredibly well right now.

The female is currently in school and has student loan debt.

The rental market caters to college students, which could also increase wear, so I increased CapEx and Repairs to 16%.

If it is correct, this seems like a brilliant way to have someone else pay off my student loans.

I was terrified by the horror stories of students who took out loans to pay for school and don't finish paying it off until their 40's.