Your credit union has their specific guidelines that they choose to operate with and that is based on their appetite for risk.The base underwriting criteria for all conventional loans comes from Fannie Mae and Freddie Mac. 

There are a range of options they could choose from, if they wanted.They could require that it be brought current.They could require 24 months of on-time payments post-deferment.They could raise your rate. 

(I would choose to live in the unit that needs most work) I now will have that entire year to do any renovations necessary.

As opposed to people who are choosing historic or beat up properties to help the neighborhood or make a higher return.

I think renting a room is a good idea short-term if I choose to live in it any longer.

If you've got a complete cosmetic upgrade, a good area and all new major mechanicals, it's a route a lot of investors choose! 

Do you mean investors jumping on deals or more deals to choose from or both?

Identify Your Financial Stage (AKA raise your FICO Score)Choose a Specific Real Estate Investing Strategy (Wholesale, Fix and Flip, Buy and Hold, Fix to Rent, SFR, Multi fam, Commercial)Pick a Target Market Decide Your Investment Property Criteria (Numbers, Numbers, Numbers.

@Davis Doan Agents are good, however, I would choose to work with a PM to identify areas. 

What could be happening is some contractors are choosing to stay at home and those that are working might be using less people to spread out.