So, I have 95,000 in the property and now I am trying to get my money out, but I may run into my debt/income being to high for a traditional loan.

We Refi'd into a specialized Heloc that allows us to access up to 80% of equity, with a much longer term and more stability than traditional helocs.

Are you househacking or is this a traditional rental?

Could someone shed light on this for me? 

I will probably go the more traditional route of the home refi.

Hi everyone, I've traditionally stuck to long term buy and holds that have required limited repairs/ improvements and have not gone through the refi process as yet.

We completely renovated the upstairs bathroom, updated all hardware and hinges on doors to a matte black finish, deep cleaned the whole house, bought stainless steel fridge and washer and dryer, updated all the light fixtures and fans, and tamed the front yard.

I would talk with him further on how to do this because I am not an attorney.3) If you read the verbiage of SB608, you have some flexibility since you owner occupy as @Oscar Cardenas noted, but I would tread lightly here. 

I'm hoping to get either a 2b/2b condo/townhouse because that's all I can afford and rent out one of the rooms.Assuming I could afford the 20% down for a conventional mortgage, would it be smarter financially and investment-wise to try and put as less cash as possible and pay PMI or go the traditional route and pay 20% or more?

Our main focus is buy and hold--we have rentals of various sorts (college students, STR, and traditional)--but I'm also looking for more flips to complete this year.