When you decide to be a vendor for GoDaddy products in a reseller plans, you are able to define the products and prices you want for this turnkey business.
1. You can sell the registration of the domains. Because you require an accredited registrar to do so, they will be registered by GoDaddy on the back-end. Your only action is to decide which TLDs you want to offer.
2. Your customers, with their own accounts, would be the owners - or registrants - of the domains that you sell. You do not own the domains.
3. The domains are obtained through their respective Registries. There is no action you need to take with those registries, and all support for the domains will go through a GoDaddy system. Your reseller name will be used for that support.