Conventional loan to FHA buyer

[Esthefany Aguirre]

Ok so I am completely new. My parents bought a house using a conventional loan and marking that property as an investment. I would like to buy that house but using a FHA loan and I am a first time buyer. My question is how soon can my parents sell this property to me since it has not been even a month since their escrow closed. The house already has equity not a lot but some. Oh and this house is located in L.A county. I heard something about a 90 flip rule but does this apply to a conventional loan?