FHA 203K Loan for Flipping?

[Nicole Brodie]

Hi there! I'm newer into my real estate education and was looking into FHA 203K loans. They seem like a good financing option since it combines mortgage and renovation with one loan with little down payment percentage. Has anyone used this type of loan for a flip? Per my initial research, it seems one of the requirements is that the property must be your primary residence so I'm a bit unsure how someone would use this loan for a property intended as a flip.

Thanks for any thoughts!