Get more leverage in exchange for paying PMI?

[Greg White]

If PMI for rental property mortgages is tax deductible, then is a 20% down payment as important as it would be for a home you would occupy or live in? For a rental property it seems like you can do a lower down, get more leverage and not feel so much of a big sting on PMI fees if a decent portion of that PMI can be deducted on income taxes under an LLC. Would this be correct?