3.5 or 20%

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Ready to buy my first home/rental but not sure where to start. I am liquid about 50k. I love the idea of house hacking but I also like the idea of 20% down and having equity and a lower payment considering the interests rates.. I think I could even save another 20 percent with me and my wifes income combined in a decent time.. Found some multifamily properties that I could afford to put 20 percent down and still have money left not including my monthly income from job. Hard to cash flow with lower down payment and pmi and all of that but wondering if im better off putting 20 percent down and maybe using the equity to get another eventually.. I currently rent and figured I could continue to pay rent with my W2 and save all of the cash flow after expenses from the property on top of saving my w2 income as well.. I know its probably better to do 3.5 so i dont drain my savings mostly(would still have money in reserves) but then again I'd have equity.. If i do put 3.5 down would I be able to get another at 20 down since i have debt and little equity in my first one? sorry im all over the place just not sure the best way to leverage my money.. Currently grossing 6k to 7k monthly at my w2.. I currently have 0 debt and my fiance is going to be making great money as a nurse in july as well when she starts her new job..Thank you for any feedback..