How long do you have to live in a FHA acquired property?

[Sean MIddleton]

I have heard several people use FHA and 203k loans to buy investment real estate. I currently have a home and am using a HELOC for capital to start investing. I live in my home with my with my wife and son. Knowing that I have to "live" in a property to qualify for FHA/203k loans, I noticed investors have either lived in as secondary property or lived in short term before renting the property out. What are some common strategies to use FHA/203k for individuals that currently have a home they live in? Is this possible?

[Joe Splitrock]

Quote from @Sean MIddleton:

I have heard several people use FHA and 203k loans to buy investment real estate. I currently have a home and am using a HELOC for capital to start investing. I live in my home with my with my wife and son. Knowing that I have to "live" in a property to qualify for FHA/203k loans, I noticed investors have either lived in as secondary property or lived in short term before renting the property out. What are some common strategies to use FHA/203k for individuals that currently have a home they live in? Is this possible?

Take the quotes off of live, because you must actually occupy the property. FHA very clearly states that it is not for investment properties. It is your primary residence where you live with your wife and son. That means you sleep there. It is your tax address. It is your drivers license address. Your name is on all the utility bills. It is your kids school address. 

Don't take advice from people who cheat the system. Especially if you have a family, don't do dumb things that will land you in legal trouble.