Financing a 3 plex or 4 plex on first deal

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Can you get a 3 plex or 4 plex with an fha or conventional loan? I was aware you are suppose to have the intention to occupy 50 percent of the dwelling for a year so a 3 and 4 plex was out of the question however i know a couple of people who have told me they bought some with an fha loan in the PAST. I am getting mixed feedback and would appreciate your guys knowledge on this subject. I'm aware mortgage fraud does happen everyday however just would like some feedback. 

[Perry Farella]

As an FHA 203k lender and a Conventional lender perhaps I can help here. On ANY FHA loan, 203k or otherwise, the owner / borrower does have to agree at closing to occupy the property as their primary residence for first 12 months before vacating and leasing all the units out. The advantage is the down payment can be as little as 3.50% down IF the numbers work. Separately the FHA has an extra rule for a 3 or 4 unit called Self Suffiency Test. Basically that means when counting future rents from ALL apartments, even the one the owner will occupy, that rent total, taken at 75% of gross MUST at least equal the full monthly mortgage payment.
The lender who told you that you must occupy 50% of a Duplex likely just meant you will occupy one of the two apartments for 12 months, just like any FHA loan.
The nice aspect of the 203k is you can add in needed dollars to repair or update, all based on the future After Renovated Value or ARV. Plus with 203k on a purchase, you can be mortgaged to 110% of that ARV. A huge advantage if the area is just starting to appreciate. Another plus is 203k allows you to add in up to 6 months of house payments during the construction period. This is so that you don't have to make mortgage payment while no units can be rented yet and you are paying to live elsewhere.
Now A Conventional loan also allows rehab. The Freddie Mac one I really like called Choice renovation because it allows a 2 unit Owner Occupied (duplex) to be mortgaged to 85% of ARV, so you need 15% down. Then a 3 or 4 unit can mortgaged to 80% so you need a 20% down payment. (If the 2 to 4 is to be Investment property then down payment goes to 25%)This loan also requires you to reside there for first 12 months before turning into an all tenant property. My blog has examples of these and Im happy to answer questions.