Large payment to ditch pmi on house hack?

[Jacob Waugh]

At the end of August I purchased an 1100sqft duplex. 1 bed 1 bath each side. $140,000 purchase price. 5% down. After credit for repairs it cost me 4k out of pocket. I inherited a tenant with a lease until July he pays $500 a month. Water isn't split so I pay that bill. 

Mortgage, insurance, taxes, and pmi comes out to $1155 monthly. 

I am wondering if I should make a large payment of $22,880 in the next couple of months to reach 78% equity and get rid of pmi that is $158 monthly. 

I would like to purchase another duplex in August this year also, which may be feasible even after this large payment. 

I'm trying to get thoughts on this action, also guidance on how to analyze the action necessary. Thanks in advance for your response! 

[Dale K Poyser]

if you can do  both the lump sum and the purchase of another property I would hold on to that lump sum amount and 

1 - consider picking up two additional properties 

2 - have that lump sum available in case of emergencies. I think cash will be king in the next couple months and having the capital on hand will allow you to take advantage of more opportunities.