As Jennifer mentions, it depends how you purchased the property. If it was a Fannie Mae, Freddie Mac, or HUD property, and you purchased as an owner occupant, than the answer is probably not for at least a year. If you purchase using certain down payment assistance programs, they require much longer primary residence.
If you purchased using finance, and it was not an investor loan, read the fine print. Most lenders frown on buyers using primary residence loans for rental investment property purchases. There is probably a restriction in the loan against renting right away. Of course that doesnt mean you can never rent it. But if they audit the loan, and find you never lived there, there may be some serious penalties.
If you purchased it as an investor, with cash or an investor loan, and there are no other rental restrictions, than probably yes. Make sure if it is in an HOA there are no HOA restrictions on rentals.
I am not an attorney and this should not be taken as legal advice. This is just some areas for you to research to make your own determination. Consult an attorney for legal advice.
DON SHIPPEY, REO, CDPE, SFR
BROKER Associate / REALTOR
Certified Distressed Property Expert
Short Sale Foreclosure Resource
Certified Military Housing Specialist
Certified Professional Property Manager
RE/MAX Properties SW