RE Attorney's, Can you explain FHA's Hotel/Transient Disclosure?

[Michael Conway]

We recently bought a duplex that we are owner occupying. We utilized an FHA loan to buy this property and as part of the loan process FHA/HUD had us sign form HUD-92561, Hotel/Transient Use of Property. Our initial goal for the second unit was to convert this to a short term vacation rental, but now we are questioning this option.

Is anyone familiar with this form, any possible exceptions, and/or legal implications? How is this enforced by FHA/HUD? We are weighing out options and hope to better understand if anyone has every ran into an issue with this..

Thanks,

Michael Conway