Buying a house to turn into a rental without 20% down

[Brian Sisco]

I'm looking into purchasing a home without 20% down that I would like to turn into a rental. Even though it would have PMI in it, the house would have have two apartments in it (one apartment is already filled), and the income from both apartments would satisfy the mortgage / PMI.

I am reading many people against PMI, but if I'm renting out the house I don't really see it being too bad. I also would likely plan to sell the house after a certain time.

Should I not be looking into investment property without 20% ready? Is 20% really needed if the rental income covers the higher costs?