You look like the kind of person who is going somewhere.

My business partner and I purchased a commercial office building a few years ago with creative financing.

Can you send me a link and/explain from either personal experience or an example of when you seen that happen.  

Who gets blamed for and/or has to handle the following unique to nonfamily roommates:1) Missing personal possessions?

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

I tried to create rapport with the owner over the phone but waited to present my real agenda only in person.   

@Khaled Seirafi what business would make the mistake of providing BAD references?

The liability coverage is way better, the building coverage is often better, and commercial policies typically cover loss of business income as well, which a homeowners policy isn't going to help you with.California + wildfire area + STR is super tough. 

I purchase the land from a local jeweler who I tracked down at his business and asked he was interested in selling.

Firstly, becoming a multifamily agent is a fantastic way to learn the business first hand while making some cash in the process.