Owner occupancy rules - STR

[Brian Angeron]

I am working out of town for months at a time and would like to buy a property back home with an FHA for the low down payment. While I am away I would like to rent the property as a STR, having family help with the management.

Is there owner occupancy requirements that would prevent me from doing this?

The property would remain my primary residence on paper while I am working these contract positions out of town for 3+ months at a time, I just would not be physically present for the entire 12 months.  

This would be my first investment property so please excuse the Newbie question!

Thank you!

-Brian

[Taylor Dasch]

Someone told me a while back on reddit that you must intend to move into the property. I am not sure if this is accurate to be honest though and I dont even know where to start looking. Like Benjamin said, its best to talk to your banker. I just got a conventional primary mortgage (10% down) and they wrote me a letter saying that they will be confirming that I am occupying the property periodically. Oh the woes of the Nomad method lol.  Either way, it is a great way to get started and get a hopefully lower interest rate!