I can't owner occupy and will likely need to put 20% down but what's the best way to get money back out?

The property has been listed on the MLS as currently occupied.

I would obviously want to refi as owner occupied with a convential loan to get rid of my PMI and cash out the equity so I can BRRRR. 

However, if you decided to refinance, then you are technically getting an new mortgage under new terms ( and possibly, a new due-on-sale clause/terms)So for example, let's say you have an FHA loan in which you have to owner occupy for a year - correct.

The pricing of these loans used to be 1-2% higher than a Fannie Mae loan, however the regulators for Fannie and Freddie put additional restrictions on Non-Owner occupied loans which caused the rates to increase, so there is close to no difference in the rates as of right now.

The ADU/duplex idea is tantalizing (they could be 100k cheaper and yield higher rent than a legal technical duplex), but it's always illegal (when not owner occupied and properly licensed) and cities have a really big stick they can shake at you if your neighbors complain.

The property in question is tenant occupied currently and doesn’t look like it will need much renovations.

Here is my situation; I am looking to purchases a commercial property in Shenandoah, IA. here is the description:SD LOTS 496-504 CRIP W 20' E 45' LOT 6 & PT VAC ST ADJ SW. the tenant occupying the space will be leaving at the end of the month but the seller's niece is only wanting to keep the back half of the property as a hair salon and wants nothing to do with the store front or the apartments upstairs.

-My business partners and I will be subleasing the space from the Landlord-The space we wish to occupy is too large for us at the moment.

Can you find a subleaser to take over your lease so that you can do an owner occupied house hack to get your feet wet?