A good way to find out more, is to talk with local realtors who deal with owner-occupants, as opposed to investors and see what their impression is there.

A duplex doesn't require meeting the self - sufficiency rule, but a 3 - 4 unit does require meeting that rule and with the high prices in CA that doesn't always work.Self-Sufficiency Rule:The maximum mortgage amount for 3-4 unit properties is limited, so that the ratio of the monthly mortgage payment, divided by the monthly net rental income does not exceed 100%, regardless of the occupancy status.

Areas that have these laws often place a deed restriction that you can’t sell within the year when you pull an owner occupant/builder permit.  

Depending upon your occupancy type for the property and what the ARV vs the remaining balance on the note are, you may not have to come out of pocket with too much money, if any, on the refinance. 

The few that were close to decent deals were snapped up in the exclusive owner-occupant period.

I bought one in Whistler as an owner occupant that I plan on turning into a rental.

Another option is to split the cost based on the number of occupants in each unit but this also means you'll need to adjust the charges as tenants move in/out, so it requires more work and I wouldn't recommend it.

I would be cautious at these levels and look for deals or at least have some buffer in what you think you can pull in based on occupancy and current nightly rates.A unique property may give you a leg up over competition. 

While occupancy last month was at 70% when we closed yesterday occupancy was up to 93%, with several more move-ins scheduled for the new owner.

Hows the occupancy been?