This is very common.

I know it's more common with rare supercars but that's way out of my league for now, I've been doing this with sub $30 000 cars

Some investors with lots of experience / risk tolerance / cushions are able to make decisions about properties without seeing the inside - this is more common with houses being sold at auction for example. 

Is that technique common?

@Joshua McMillion one time close VA construction lenders aren’t as common as one would think.

And plumbing subs are commonly billed separately.

It seems pretty common that houses in Austin (older parts of town) have title and heirship issues. 

IE in many areas you have historic platted lots  say 25x100 and you had one person buy say 4 lots.. well the assessor to make things easier on their office would combine the 4 lots into one for tax purposes ( common) at least out here on the left coast. 

Is it common, no.

If going to buy a house or small plex and you need a mortgage, I'd explore buying as TIC (tenants in common) with %s listed and have a JV agreement.