Private financing! What type of house?

[Philip Gould]

I have been offered private financing 5 year arm amortized over 30 years at 3%. I have to put 10% down up to $120k. Your thoughts on this?

Second, what would be best to hold and rent. Townhouse, condo or single family home.

Thanks for the help in advance. This will be my first investment property! Any other advice you want to give will be welcomed!

I live near Winchester in Virginia