Getting Started but USDA

[Doug Royce]

Hello BP!

I've been lurking through the forums and listening to the podcasts for awhile now and decided to make my first post.  I haven't had to up until this point because the search function is so useful but I'm having a hard time finding an answer to my problem.

I'm new to real estate and secured my first ever piece of property back in 10/14 as a first time home buyer. Fortunately I was eligible for a USDA loan on the home and got a great deal on it.  I moved in and immediately started with upgrades on the place, mainly a kitchen renovation that it needed badly.  I've been doing a little at a time as I can afford to  (Countertops were actually installed today.) and I planned on living there indefinitely.

But, a couple weeks ago I landed a new job with a different employer that pays much better. (woohoo!)  It's only a little further across town but the traffic is worse and I'm paying $130 in tolls every month.  Because of this and a few other reasons I'd like to move closer to the office so I've begun looking at some neighborhoods near by.  Now because of BP, I've learned that my current home can produce great cash flow every month so I'd like to keep it and rent it out but I knew there were owner occupany restrictions with a USDA loan.   Originally when applying and closing I was told at least a year and I was prepared to wait at least that long.  But looking it up online, it says...

"The homeowner will occupy the home financed with the guaranteed loan as their primary residence throughout the term of the loan." - http://www.rd.usda.gov/files/3555-1chapter08.pdf

I'm assuming this basically makes me a 30 year prisoner to my home unless I refinance or sell?  Has anyone had any experience with this?  Is it basically up to the lender the loan is sold to or no?  Is selling or refinancing my only option?