Minimum down payment

[Robert Gavlas]

Would it be reasonable to get a loan for 5% down for a rental property? Here is an example:

Foreclosed Property

Property valued in the $150-160k range

Asking price is $99,900

If I only put down 5% the LTV would still be less than 80% correct? If this is possible would they still require PMI?

I am planning on sitting down with lenders soon, but just wanted to get some more info first.

Thanks