Multifamily FHA Loan

[Hunter Waterman]

I'm looking to purchase my first home and I have good credit. Here is my plan: 

1. 1. Put down 3.5% and receive an FHA loan to purchase a multifamily home with 3 units and 3 bedrooms per unit
2. 2. Live in one of the bedrooms in one of the units and rent out the rest of the 8 bedrooms. Also, hire a property management company because I already have a full time job
3. 3. Move out of the home after 12 months and rent out my old bedroom

After researching FHA loans, I've found that some people believe this plan to be fraudulent while others say that I can carry out my plan as long as I live in the home for 12 months.

Can someone else weigh in? Should I tell the bank my plan??