Then it was sort of rinse and repeat.I did notice that was a popular starting point on a BP poll recently (renting out a place you already owned/lived in).It makes sense as you have the financing in place, the transaction complete, plus you have screened the area and the property, know all the maintenance and routines, etc.So your first home may be your first investment property, too, eventually. 

But I will say commercial due diligence follows much the same routine.

Thinking it was a routine eviction (we had probably done one every two years for the past decade) we went into court.

I now have to provide the routine documents (W-2s, pay stubs, tax returns ect...)

I gave my $300,000 move-in ready beautiful vacant home to this large well known local co in Oct 2016.( Ive owned and self-managed another very similar rental in the same subdivision-- since 1998--and it has never had one day of vacancy in 16 years-- rented at $1860.This professional pm co put all utilities in their name on my new property and turned the hot water heater ON and the Water ON ( even tho the main water cutoff valve is easily accessible in the coat closet beside the garage.They let the property sit VACANT OCT-NOVand on their "routine inspection on Dec 1, to make sure hobos had not moved in" they SAW the water heater in the garage was spewing (at full blast) A 20' stream/ fountain of HOT WATERand that the entire finished closed garage was covered COVERED !!

We are very uncomfortable with signing and LOI without loan contingency. 

I get uncomfortable negotiating price!!

I've also heard investors say that they will pass on a property if they are uncomfortable with their wife/significant other going there alone.

As an attorney, I routinely represent investors in closings whether it be for a single family house and a hotel.

Your just not familiar so it seems strange or unique or disgusting to you but you now you know .. its routine and to be expected if you want personal banking relationships and not do business with a computer..