Newbie Investor Financing question

[John Nguyen]

Hi BP family! My name is John, I'm brand new to RE Investing looking to buy my first property. My question is would it be wiser to do a FHA loan with a 3% down and save my cash but pay the PMI or should I down the 20% and have more equity in my property. I plan on living at the property for at least a one year period. Is there an advantages to doing FHA vs Conventional loan? I found a property which had recent Cap Ex done and once I decide to eventually rent out the property after a year or so I would be managing the property myself. Any advice is greatly appreciated! I am so excited to be starting this journey! Cheers!

The property estimates the below:

Rental income: 2195

Expenses: 1762

Mo. Cash flow: 432