If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

@Duarte MarquesPossibly but highly not recommendedFor those with no real estate experience or experience in taking on debt, it’s not easyTo do it also with little to no down payment or reserves in most occasions will end in disasterReminds me of when in high school a friend used to let his dog drive his car.

I had a heart-to-heart with the contractor and made it clear what our expectations were and no more money (he was asking for a second payment of a three payment contract) would come his way. 

In those cases where a tenant suffered a minor setback and is back on track, if they are scheduled for a hearing before they're evicted they will often pay before that or when they see the notice on the door, but only if you file relatively soon.It really is good screening and filing quickly and consistently that minimize nasty non-payment issues in just about any kind of market. 

Since you'll be owner-occupying, take advantage of low down payment loans like FHA (3.5%), Conventional (5%), VA (0%), or a 203k loan for renovations.

Rentals also build equity through tenant payments and appreciation, with profits taxed at lower long-term capital gains rates when sold.

Is LBYM long enough for a full down payment really worse than the stress on your family? 

Use the 20K as a down payment on the next house hack and don't touch your current properties equity.

The appraisal district shortly thereafter corrected the tax allotment “anomaly” between the two lots, but the investor never made a tax payment and eventually lost the lot to a tax foreclosure.  

And of course, if your actual cash value is less than the current mortgage(s) on the property, all of the cash value payment will go to the lenders.