How does the FHA occupancy requirement actually work?

As far as I know, the rule is that you must make the property your primary residence within 60 days of signing.

Lets assume my intention isnt to try and beat the system or swindle anyone. I plan to move out soon, around December of this year. I plan on buying a multi family and living in one unit. Assume the perfect house with a great cap rate shows up 100 days from my move-out date. 100 days is greater than the 60 day requirement, so if I got an FHA loan I would be in violation, but… Is it really that big of a deal? I mean, my intention is to move in and not rent out both units or something. How would "they" even know? By the time I pay my taxes my address would be the new home. Until then, how would anyone actually know if it is my primary residence?

I'll repeat it again just to be clear.. My intention isnt to game the system in any way (such as renting out both units instead of moving in), I dont believe by doing this I would be harming anyone and I would be benefiting myself. I would be breaking the rules of the loan agreement (which is a $10,000 fine), but I dont think its possible to be found out, really. It seems similar to something like smoking weed in your living room. Yeah, its illegal, but unless you have a live-in policer office it isnt really an issue.

More real estate tips at Program Realty Wix site

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