Financing a Owner Occupied Flip ARM??

[Lana McGrady]

Hey there, I'm about to sell my perfectly fixed up 2 bedroom townhouse (I didn't fix it up - I only put down hardwoods) and I plan to get a house I can flip - I plan to live in it while fixing it up as I'm making quite a bit of money on my townhouse. Il have enough to pay off all my other debt (car and student loan) and still come away with money to put down and money to put in. HOWEVER not as much as needed. I'm budgeting up to $100K to buy (financed) , and 50K to fix up. selling it in 2 years for 230K ish.. I was reading up on loans as ill have to finance some of it. would an ARM be the best option, if you know you wont be there when the original APR changes? like a 5 year? or just the basic FHA? I have been so bored in this townhouse, getting excited to get into something that will keep me busy..