Thats just incorrect if its owner occupied.

Something to keep in mind is the lending options change when in LLC, so leverage owner occupied loans for Refi/HElOC etc go away once you move out.  

I'm considering a major reno owner/occupied triplex in the Irish Channel, great walkability. 

My objective is to buy about an acre of land, that is already leveled, access is being done, and utilities are going to be 5 feet from the property; and then build 3-4 shell retail spots on my plot, owner occupy one of them with a business and lease out the others.I am meeting with a developer this weekend, but have some wrong numbers regarding the average cost of building a shell space. 

Duplex fully occupied with rents of $2,500.

Once occupied not worried.

I’m thinking an FHA or conventional, ideally owner-occupied.

Right now we are over 2 months into it being fully occupied and we have a pretty good understanding of the operating cost.

Then in about 1yr move out to a SFR and rent out the unit I occupied in the MFR. 

However, every company I find either doesn't insure non-owner occupied units or is extremely expensive.