The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

Choose the one that offers the best deal and service, and you'll be set to move forward with the process.

One month of vacancy will cost you $2,600 + $200 utilities.

@Allende Hernandez what happens if one or more occupants move out and the others stay?

I had one client who was going to use it to purchase an STR but decided to wait a few months (he ran into some huge expenses with another rental capex stuff)

Live in one side and renovate that side, then after the lease for the other unit is up move into that one and renovate it.

Are there any tax advantages in doing it one way or the other?

Congratulations and I wish you a ton of success for you and your little one.

I understand that they operate in real estate under one of a few exemptions from registering as a security with the SEC.

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.