Multi-family live-in Flip BRRR Question

[Nick Causa]

Bought our first duplex and are going to utilize a live in flip BRRR strategy. We plan on reno-ing the upstairs unit we’ll be living in while a tenant is already downstairs. Then, when that is completed, move downstairs (rent the upstairs) and do the same down there. My question is in regard to the cash out refi after all renos are done. Is it correct in assuming its best for the bank to see the two units rented fully with us not living there instead of us living in one unit, renting the other, then doing the refi? Will having both units rented give us a better appraisal? Or does it not matter? I know the bank wants a good debt coverage ratio. Any help appreciated.