FHA verses conventional loan

[Matthew Gonzalez]

Hi! New BP member here and over all new to real estate investing

My plan is to house hack a duplex and my goal is to cash flow once I move out of one of the units. I'm aware that there are options for low money down like FHA loans which usually carry lower interest rates than conventional loans. What's straying me away from this option is PMI, the up front mortgage insurance and longer wait time before the PMI drops off since I will be putting less down kind of sucks.

At the moment I think I'd be willing to put 10 percent down with a decent interest rate if it meant I could get to 80% LTV faster. I think this route would save me more money in the long run and I could cash flow faster. Is my thinking on the right track?