Owner Occupied FHA Loan looholes?

[Sam Khoshnavaz]

Hello BP Community:

I'm looking to invest out of state since the market in my area is way too expensive for me to get started in and make it worth my while. That's why I am looking to invest back home in St. Louis Missouri, where I grew up. I am very familiar with the markets in St. Louis and know of a couple neighborhoods that I would like to ideally invest in.

My question has to do with the financing aspect of the deal. I was curious as if it any loopholes exists where one can finance a property through an FHA loan and bypass the minimum 1 year owner occupied requirement of the loan? I believe that this would be extremely beneficial in allowing me to secure a property back home with little down, since I don't have enough for a 20% down payment and costs of rehab. In the meantime growing my professional career as an accountant here in San Diego.

I would love to hear back with any advice or experiences that you all may have

Also, I would love to connect with some of you in person as well. Any of my local San Diego investors would like to connect, let me know.