Is it worth paying PMI to get into REI quicker, or save for 20%?

[David DuCharme]

Something that I’ve been debating for a while now. I am an existing homeowner $125K value with $895 monthly payment. My other debt payments total $251 per month. My income is $75,000 annually. I’m 23 years old and want to dive into real estate early so I can drop this 9-5 bs eventually. My real estate strategy is roughly:

$150K Price Point

Central Pennsylvania

3 2BR- $900/mo or $2700/mo Otherwise

2000+ Sq Ft

Initial Investment

$30K Down Payment at 20%

$10K Rehab Fund

$10K Emergency Fund

My question is, should I wait until I can save a full $50K before diving into this, or does it make sense (if the cash flow works) to buy on a 3.5% down mortgage with the added PMI. I think this problem/dilemma is solved by the BRRR method. If completed right I should be able to increase equity to refinance out of PMI, no?

Thanks for any and all input.