Questions about an FHA loan

[Katie Thompson]

Hello,

We are fairly new real estate investors in the Cincinnati area. We know the basics of an FHA loan but were wondering if there are any specific stipulations to getting and having one that we should be aware of?

For instance, how long do we have to live in a house if we have an FHA loan on it? We plan on making it a primary residence and doing a "live and flip." Our lender said that we should be fine, but we would like to be cautious.

Thanks in advance!