I am also now looking into purchasing an owner occupied MF unit - I have a feeling this will be my best bet.

I think house hacking first is your best bet.

But with this kind of negative cash flow, you are betting that appreciation is growing more rapidly than the interest you're paying--just to beat putting $900/mo in a savings account.On top of that, you're still in the window where you call sell this tax free using the primary residence exemption.Using the $80K on a $350-400K multi or two $200K homes on a 30 year fixed will provide the same appreciation while having someone but you pay off the mortgage.

December 2nd roles around and the tennants pay me 1700 (granted rent plus the late fee is 1650, however between November and Dec. the combined total is 3300) not including the court costs I spent to start the eviction process.does his 1700 dollar payment cancel my eviction process?

I own and self-manage 9 small multi family properties (22 units total) that are very stable.  

And it looks to be a bit to tall to move .

However, I also saw that in some cases my Year 1 or Year 2 "Annualized Total Return" was huge - from 65% to 150% in some cases...

I find it hard to believe that Chase is taking 1% of the total amount vice the outstanding balance, but it would not totally surprise me if that is the case.

Your best bet might be calling around to some local banks (portfolio lenders have flexible underwriting) and seeing what they will require to get a commercial loan on multi family properties. 

Yep, totally agree with @Chase Keller and @Andrew Kerr.