With the years end, December 31^st 2014, the FHA ended the temporary waiver to the FHA 90 day flip rule allowing financing on flipped properties before the current owner owned the property over 90 days http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ

What does this mean to a seller or buyer?

Any buyer who is using a FHA underwritten mortgage to purchase a home, and is interested in any house, should make certain that the seller of record owned the property 90 days or longer. FHA will no longer insure the mortgage when a seller owned the property less than 90 days.

In the same respect, as the seller of record, when you would like to sell your property to an FHA buyer, you need to have owned that property for more than 90 days before you can sell this property to an FHA buyer. Many of you might not record the deed after you purchase the property, so make certain that you have your paperwork in order so it can be validated through the title screening process.

When the owner of record has to jump through more hoops to sell your property to a buyer that would like to purchase the home with an FHA loan. FHA may possibly require additional documents to support the re-sale value of any property if the re-sale price is 5 percent or greater than the lowest sales price of that specific the property during the last 12 months.

http://www.ecfr.gov/cgi-bin/text-idx?rgn=div8&node=24:2.1.1.2.4.1.88.39

When you would like to have any additional information about real estate contact the Settles Team.