FHA typically does not put restrictions on deeds. However FHA does impose rules on selling homes financed using FHA loans that are less than a yr or 6 months old- that is called "flipping". FHA's goal is to make homeowners out of renters, not to fund investor-for-profit opportunities. That is why the restrictions were put on FHA repo homes and others. FHA appraisals, like VA stay with the property for 6 months after they are issued. If a property was truly distressed, bought rehabbed and sold in less than a yr (or 6 months, I can not recall which) you will have to have a VERY GOOD explanation as to why the value went from X to XX in such a short time. To refi an FHA loan less than a yr comes with restrictions as well. I think it must "season" a bit first. That is also to stop consumer fraud, which has become a problem in recent years.
I do investment real estate, and I use to do homes.