Including PMI to Cash on Cash return

[Matthew Gonzalez]

Hi! New BP member here and over all new to real estate investing

So for the last week I've been familiarizing with the expenses involved in buying a rental property and while watching tutorials I notice that they almost never add PMI to the list of expenses. I just assume they are putting 20% down

My question is should I analyze a property without taking into account the PMI, since I will not be paying this forever,or should the cash on cash return be in the 10-12% range with the PMI integrated into the equation in order to take the deal?