Mortgage Insurance or 0% APR credit card

[Patrick M.]

I am looking at a property and have the scenario of either 

1.  20% down.  All cash tied up.  Cash flow 400-500.  Upgrades of 10k.  Use 0% for 15 month credit card to finance 10k upgrade.  Cash flow now pays down the 10k balance and I use some W2.  

2.  15% down.  Higher interest rate by .3%. add in Mortgage ins.  Cashflow reduced to 225-325.  5% cash remaining on hand would be roughly 10k used for upgrade.  Eliminates the 0% cc and hopefully any W2 payments

Anyone had this scenario or have any advice? Seems like paying the mortgage insurance might be better and use the cash flow to pay down mortgage faster to get back to 80% LTV? Have a HELOC or do a CC 0% for emergencies.