Preach it, @Joe Splitrock...it seems that politicians who frequently tout legislation to confiscate more wealth from businesses have had little to no practical experience running businesses, and don't always appreciate the impact on the free market.  

Is this common practice? 

Our house is practical and not expensive.

Assuming you could invest anywhere in the US1. how would you practically identify the most suitable possible locations for rental properties ?

This gets you 50 % of where you want to be, while simultaneously apprecating in value, not to mention the tax shelters that would become a major benefit to offset your income.

However, whether in practice an eviction can be successful, particularly if you've improved the property, is a question for an attorney.Good luck!

I am a physical therapist, own my own practice, and am slowly trying to build a real estate portfolio.  

I formerly practiced real estate law before I made the transition to opening my own independent brokerage and focusing on residential real estate.

Is it possible to do dual (simultaneous) closing, whereby I pay the first note and deed the property over to the buyer at the same time?

This is the future of business structures and practices in my opinion.