How to decide down payment vs PMI

[Charlotte Wilson]

I just bought my first investment property (single family home) that I plan to rent out. I plan to keep expanding my portfolio but am having a dilemma.

let's say I have about $100K sitting in my bank account ready to spend on properties. Is it best to put down the 25% down payment (Illinois requirement) to avoid PMI and have less properties or to put down the minimum required down payment to have more properties but lose out on paying for PMI every month. (I understand I can refinance once I have 20% equity to get rid of PMI later) I have a hard time figuring out long turn what works best from others experiences. Any advice or tips would be appreciated.