Financing options - what am I not considering?

[Nate Weber]

Hello everyone! I'm looking for advice from those more experienced for things I may be missing or not even considering on financing options.

I do have 20% cash I am able to put down but my bank has two attractive financing options that I'm considering:

1. 10% down first investment property: 7/1 or 10/1 ARM's with zero PMI (3.125% & 3.375% respectively at the time of the quote)

2. 0% down primary residence: 7/1 or 10/1 ARM's with zero PMI (2.625% & 2.85% respectively at the time).

My plan is to move out of my current home and turn it into a rental (remodeled while I've been living here, added +1BR and +BA, now a 3/2) and BRRR another but I would also the investment option for the right property and stay a bit longer in my primary residence until I find the right deal.

Curious on more experienced investors thoughts on the financing options.

Drawbacks to either of those options?

Keeping more cash on hand without paying PMI vs. putting 20% down doesn't sound like a bad idea - anything I'm not considering but should be?

Appreciate your feedback and expertise!