An investor would typically finance via non-owner occupied conventional at 20% or 25% down @Robin Simon, so DSCR lenders use to underwrite the performance of the property based on the actual room rent?

SBA requires a minimum of 51% owner occupied.  

I see this is posted in the house-hack forum so I'll make the assumption that you want to owner-occupy your next investment.To work more hands-on, you'll want to spend time searching for deals, analyzing deals, and networking/building a team.Before your property search, I'd recommend speaking with a lender to find out how much you'll qualify for.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

You say investment but doing this long enough that is sometimes parlance for this deal might be looking like an investment but are you going to live there (owner occupied)?

If they give you push back, tell them if they are not ok with you doing work inside while they occupy the space then you won't be moving forward with the work as you are not obligated to complete cosmetic upgrades.

With 20K are you looking to owner occupy?

You can use a Conventional owner occupied and as soon as you bring the equity to 20% through many invested or appreciation you can reappraise and drop the PMI.  

I am under contract on a duplex that I will owner occupy for 5% down.

If this Cap is allowed to expire, I would think that there will be a rush to take advantage of it.That should increase demand for higher priced Homes because the Standard Deduction gets reduced significantly AND you can go way above the Standard Deduction by Itemizing the SALT Deductions.If your comps are Single Family Homes and/or small Multi-Family that can convert to an Owner Occupied (think BRRRR here), it is well should rise in value as the Federal Tax deduction lowers the monthly payments for every homeowner with a large Mortgage that also pays State and Local Taxes. too funny I had not thought of the Salt deductions in years and today it popped into my mind then you post this.. very true for high priced markets this will be a huge bene