Refinance on house hack

[Cameron Richard]

Purchased my first house hack duplex in June 2025 for $236K using FHA (3.5% down, 6.125%). Planning to buy another duplex in June 2026 as another house hack.

I estimate ~$285K current value given I did a rehab on my unit (~80% LTV), which would allow me to refinance out of FHA and remove MIP.

Question:

Does it make sense to refinance into a conventional owner-occupied loan before moving out to lock in a better owner occupied rate and drop MIP, or keep the FHA loan and purchase the next property with ~5% down conventional, then refinance the first property later as a pure rental if/when rates drop further?

I appreciate any advise