Fannie Mae owned property , flipping rules ?

[Rob Rey]

I looked aroung Google for rules about flipping a Fannie Mae owned property .

I know HUD has rules about buying HUD properties as a owner occupied or as an investor .

My question is , can an investor buy a Fannie Mae property , then try to flip it while holding the property for as short a period of time as possibe ?

I couldnt find any holding period requirements or preferences being give to owner occupied Fannie Mae properties ?

I know at one time Fannie Mae would not back a mortgage
on a property that was owned by the same person for less than 3 months. I think they rescinded this rule recently, thou I'm not sure about that .

So, can an investor simply buy a Fannie Mae owned property and then attempt to flip it without any holding period requirements ?

I'm thinking yes , thou not very sure with my answer.
I'm hoping someone can clarify this for me .

Thank you in advance for any info and responses .

[Scott M.]

They will put a 90 day deed restriction on the property unless you negotiate it down. I just locked up a FNMA property and got the deed restrictions to 30 days. I have been able to get it to 0 as well. All depends on the people involved.