Because you occupy the residence, most local banks will give you 95% access to the line of credit.

The homeowner must actually use and occupy the home as a principal residence.

I can’t imagine underwriting is going to approve your purchase of an owner-occupied residence that you as the owner can’t occupy.  

Also (at least in my state) there are different laws for owner-occupied multi-family homes.

Hello All,

I just took over a new property and plan on living in one of the units for awhile. The current tenant was currently on a month-to-month lease agreement and I plan on keeping that the same when I move in ...

Otherwise, you might consider renting out your current property and buying the other home as your primary residence - financing an owner occupied property is much easier and requires a smaller down payment...just an idea.

One of the best investments I ever made early in my life was an owner occupied FHA financed quad.

Get a 30 year fixed owner occupied loan. 

A owner occupied at 5-6 cap seems like a good deal for you and will be semi passive. 

I found a four-plex that I like and thinking of putting in an offer but it is fully occupied currently.