FHA 20% Equity Rule

[Brendan D ONeill]

So I purchased a 4 unit property via FHA loan. I put down 3.5%. I purchased on 5/8/18. I have lived in the property since Memorial Day weekend of 2018. I am considering moving out. I know that I must owner-occupy for atleast 1 year. I want to move out June 1st. I was under the impression that in addition to the 1 year of occupancy that I also have to have 20% equity in the property. Is this true?