Understanding Mortgage Fraud

[Benjamin Walter McPhail]

My wife and I bought our first owner occupied home in January 2019.  We were intending to live in it and rent it out using Airbnb in the summer since we live in Alaska and the population here skyrockets.  She got offered a job so we ended up renting out the house by March.  The job opportunity did not work out so we started looking for another home and are in the process of closing the deal.

We have intentions to fix it up and live with her parents until the remodel is done.  We are going to do a lot of work ourselves on top of our full-time jobs.  It may take 6-9 months (but hopefully sooner).  Within a year and a half we may potentially have 2 owner-occupied loans on properties that are being rented out.  I do not want to walk the fence of what may or may not be mortgage fraud.  Should we occupy the property a year after it's remodeled?  I would appreciate any advice or feedback.  Trying to get the right perspective to ease my mind.