Best way to finance 2 houses on 1 parcel of land

[Ben Shipley]

Hey guys! I just got a rental property under contract in springdale, AR and was curious how you would finance this deal. Its two houses on one parcel of land in an up and coming area next to the square. I've got close to $100,000 in equity in another rental property in the same area that I could use, and have about $20,000 that Im willing to put towards this project. I used the rental calculator and after all expenses it should cashflow around $500 a month. My concern is i won't to put the least possible down, but then there is PMI. Also- the banks I've been talking to have mentioned 4.65% for 20 yrs. 5 yrs fixed. Doesn't seem great to me, but interested in what you guys think.

Really appreciate all of the help!