Advice Need: ARM vs 30 Year

[Jasper Li]

Just got my offer accepted on my first property, a duplex. Huge fixer and will be living in 1 unit and renting out the second.

Currently trying to figure out which loan-program I would like to go with and the ARM sounds like the better move but wanted to get feedback from the BP forum.

ARM has the lower rate knowing that I am fixing it up and will most likely try to refinance in 2-3 years to pull cash out. Conventional is higher. Are there any issues with refinancing and ARM into conventional later on? Anything I'm missing here that I should be looking out for?