Can I use an FHA 203(k)

[Jarret Durst]

I am having trouble finding a good answer to my question. I know with an FHA loan you must occupy the residence for at least one year before you are free to use it as whatever you like, but does the FHA 203(k) loan work the same? Hypothetically, could I use an FHA 203(k) loan to renovate a house while I live in it, then sell it after one year for a potential profit or must I stay in it longer? If that is possible, it seems like a good idea. My plan would be live in the house for a year, have it renovated to increase its value (plus it appreciates a little), then either sell it or cash out refi into another property.