As @Jonathan Greene mentioned it can be that the relationship is not well enough developed, however I’ve pitched opportunities to some of my closest friends who have given similar objections simply because all they’ve ever Interested in are common stocks, REITs, and mutual funds.

Is this common?

It's impossible that your politicians have less common sense than the ones here in NY do.  

These list agents have often been in the industry much longer than I have been so it must not be as common among strictly retail transaction realtors.

Depending on your area this can be semi-common or totally unknown.I recommend spending some time researching Subject To conditions inside Bigger Pockets (I think there's an entire podcast about it) to better understand how it works in comparison to a land contract.

(insert throw pens, remote controls, your computer mouse at this forum post) If I haven't lost you from my absolute lack of common sense and lack of following my OWN Processes, read on as to why this was the nail in my coffin with this tenant.....A little back story- he called me up at the beginning of the month with "the story".

Can you just ask you Accountant to separate the two for you, I don't see this as being an issue as it's very common

I suggest an LLC, easy enough to do and as Joseph mentioned, very common.

Just not sure if this is common practice or not.

I find this is a common oversight, and so easy to do.