When and should I refinance?

[Simon Obas]

Greetings! I'm doing some long term planning for purchasing my second small multi family which I plan to house hack. I'm currently on a FHA loan and I don't think I can use it again. I believe for my 2nd home I can put down 5% and get a conventional loan. Should I refinance my current loan to qualify for a FHA loan to use 3.5 % down for my second home? Or should I just put down the 5% conventional? Also, when is the best time to refinance?