VA Loan occupancy requirements

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Is anybody familiar with the occupancy requirements associated with VA loans? From my research I've gathered that it has to be a "primary residence" and you must occupy within 60 days of closing (up to 12 months under certain exceptions).

I've heard that if you PCS (transfer to a new duty station) you can take out another VA loan on a new property while maintaining the former as a rental property. Can anybody confirm this? or is the entirety of the VA entitlement "attached" to one property at a time?