use owner occupied loan and sale it on a contract for deed

I am a new investor trying to see what are my options.

  1. If I buy a house using owner occupied loan, can I sale it on a contract for deed, and do I need to record it?
  2. Can I rent it out ?

I don’t clearly understand the different between owner occupied and non-owner occupied loan, how the different in the point of what I can do with property.

Thank you for helping me out

Almost positive you cannot tell a bank you intend to occupy it if you don’t plan to do that. Are you asking how likely it is you’ll get caught, if you tell them you intend to live in it while you are clearly intending to use it as an investment/rental property?

the reason for the difference is there are different risk for the lender for investment property vs. personal residence.

and, yes, they do check after the loan closes to see if you are living there and they can call the loan due and in some cases bring fraud charges against you.