This document illustrates the feasibility of a few per cent level measurement of the local black hole occupation fraction in low mass galaxies through wide-field, high angular resolution X-ray imaging observations of local volume galaxies. The occupation fraction, particularly at the low end of the galaxy luminosity function, is a key benchmark for any model which aims to reproduce the formation and growth of super-massive black holes and their host galaxies. Our proposed measurement will complement orthogonal efforts that are planned in X-rays at high red-shifts, as well as in the local Universe with ground-based facilities.