Is this common in the Chicago market or markets with high property tax? 

@Michelle Nevarez, the most common way people get started is through house hacking.You could use your VA loan to buy a property for yourself to live in.  

What type of plumbing pipe is in the house - galvanized steel corrodes from the outside in, lead pipes may have been common back then.

If not, then it's probably a common thing there.

A common mistake I see for new STRs is making sure to fully understand what your property manager does.

This is a very common mistake that investors make and it will cut into your rent and days on market by a lot.

Here's some guidance on buying your first investment property in Southern California or Columbus, Ohio:Down payment:For investment properties, lenders typically require 15-30% down payment on your first investment15% down is possible with excellent credit (700+ score)20-25% down is more common, especially for multi-unit propertiesSection 8 considerations:Pros:Guaranteed portion of rent from governmentPotential for longer-term tenantsMay be easier to fill vacancies in some areasCons:More paperwork and inspections requiredRent amounts set by local housing authorityPotential property damage concernsOther tips:Research local markets carefully - price trends, rental rates, etc.Factor in all costs - taxes, insurance, maintenance, vacanciesConsider starting with a single-family home or small multi-unitBuild a team - real estate agent, property manager, contractorsHave cash reserves beyond just the down paymentUnderstand landlord-tenant laws in your chosen locationI'd recommend talking to local real estate agents in both areas to get more specific market insights.

Though accidents could happen, 99% of the time these issues that most people need to get policies for are due to the lack of common sense or for someone accepting responsibility for their actions. 

Heck it’s common practice to make someone aware of an impending obligation.

Or is it common knowledge?