HUD Homes IN

[Cody Stephenson]

Hello all, Question for anyone out there who may know the answer. I found a HUD home I'd like to flip, it is outside the period for homebuyers and open to investors. I already own my primary residence so basically my option for financing is conventional 20% down. I may or may not have a willing and able fiance who is not on the deed to our primary residence nor is she listed on the mortgage. So on paper she is living with me for free, and does not own any real estate. She is capable of buying this property as a first time homebuyer. My question is, if "we" buy it under her name with a conventional loan with less money down, or maybe even an FHA 3.5% down, does it have to be owner occupied for any certain amount of time with a loan designated for first time home buyers? I have some reservations about using an FHA loan on this property for this reason. But as far as conventional 10% down, I don't believe there would be a problem? Any input much appreciated. Thanks.