Obtain primary residential financing and then renting out?

[Account Closed]

I'm currently weighing options before investing in my first property. I spend roughly 70% of my time traveling for work right now, and as such my need for a primary residence isn't quite worth the overhead. 

Is it possible to obtain the best financing (residential, with any first time homebuyer incentives) to buy the house for myself, and then rent it out without triggering a due-on-sale clause? I believe I read that lease terms under 3 years, not containing an option to purchase, would not trigger the clause. Are there any caveats to this strategy?

[Upen Patel]

@Account Closed suggested, you can rent out rooms, or find a multi-unit property. Live in one unit and rent out the others.

You might be the luck one and not get caught, but I would not want to have that thing hanging over my head. You get caught and you are done for.

If I was your mortgage banker, I would walk away. No matter the side of the loan. Its just not worth it.

Happy to talk and give you ideas on how you can do things legally and still live for "free".

Upen Patel, Mortgage Banker

Federal NMLS# 1374243