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Updated over 7 years ago,
Owner Occupant Loopholes
I am just curious to see what can legally be done.
I've been pre-approved for an owner occupant FHA loan. My loan officer said that there is no specific time period I must live in the house, but I have to live there for a while. I am assuming after about 1 year I could rent it out.
What are the best ways to make money off of this property as I live here, without breaking the rules?