With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....

I had to explain to her that when I rent from you, I have temporary owner's rights and you can't just walk into my house whenever you want.

As the new owner, you’ll want the lease and your landlord insurance policy to take effect as soon as you take title to the property.Temporary Lease Considerations:While short-term leases can work well, leasing to a seller long-term often leads to complications.

Call the mechanic or gas station up the street and ask the owners if they know someone.

There are some amazing physician loans available that can allow you to purchase a owner occupied single family property with 0% down. 

Some types of Creative Financing include: Seller/Owner Financing, Land Contract, Wrap, Assumption, Subto, Lease Option, Contract for Deed.

I’m a new STR owner and still learning.

Can anyone recommend sources for contact information for property owners?

You paid the property owner $40,000 in rent.  

@Chris Seveney What is their name, and what types of owners/realtors have they called for you?