You really need to decide on what is most important and then start looking. 

Would that be, for example, if the PM says, "I manage a duplex for John Smith in Turlock," then I call John as a reference, ask John a few questions, and then ask John the address of his duplex so I can later look it up on the county website and verify if he is the owner?

I would just hate to be an owner occ and the next thing I know my neighbors house now has 3 to 5 rooms rented with all the cars and traffic etc..

We're still waiting for the owners bank to let us know if they'll actually help us or not.

With my background in hospitality and a drive to create exceptional guest experiences, I decided to take the leap.

@Jason Brown - I'm a CT based investor, flipper, and property management company owner.  

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Whatever you decide, best of luck to you! 

We purchased the house about 3 months ago and are owner financing it.

If you ever decided to sell the building but keep operating the business, it makes it much easier.