DUPLEX HELP - FHA/PMI question

[Matthew Hamilton]

I am looking to house hack to get started in real estate! This duplex I'm looking at would only cash flow about 68$ once I move out including cap ex, repairs, vacancy and prop management. I would be doing the management myself so 68 is really 268 but I want to cash flow without having that in question as many have suggested. Doing an FHA loan how long would it take me to get my PMI off the loan? At 150k purchase I'm looking at 125ish for pmi which would put me at 193$ /month without saving management fees once I'm free of PMI . Is this reasonable to "assume" I can drop the PMI and it would make this property worth the investment? Thanks !!

[Ben Wilkins]

@Josh Autery - you are correct that PMI doesn't come off of FHA loans.

However, a refinance into a conventional loan will take care of the issue.

I have heard of people who had their PMI removed after asking, but that hasn't been my experience.