Financing a Multi-family with Line of Credit

[Travis Conrad]

I am curious to know if I can use a business line of credit to finance a 20% down payment for the purchase of a 4-plex that would be owner occupied? Then could I refinance the property to pay back my line of credit? I thought this was a great idea but know I'm seeing that if I don't pay for PMI I would be paying back the line of credit. Am I missing anything? Is there a benefit to what I thought was a good idea? Any help is appreciated!