Primary Home Refi - How Long Must I Wait to Convert to Rental?

[Patrick M.]

We're almost done closing on the refinance of our home from a 2-Year ARM to a 30-year fixed at 3.875%. We have lived in the home for 9 years and have about $90,000 in equity on a value of $340,000 or so.

As we have been doing this, we realize we like our home but it is far from perfect. I have just rented out our first income property to solid tenants, and feel like I could rent ours as well.

Is there any statute of limitations on how long we need to live in the house under the refinanced loan before we could rent it out? Or does our 9-year tenure living in the home (under the 2-Year ARM) allow us to rent whenever we please?