10 yearARM 2.85%vs. 30 year fixed 3.5%

[Cody Ott]

First time home buyer here looking at my first home as an investment. Offered a 10 year ARM at 2.85% or a 30 year fixed at 3.5%. We are looking at buying a house under $170K in a desirable area that needs some TLC and eventually selling or renting it in the next few years depending on the market. Any advice on which rate to take? Originally the ARM sounded great until I started thinking about just how low 3.5% is as well.