Calculator Help! Rental Property Calc VS BRRRR Calc (or other?)

[Darren Wayne Shanks]

Hello BP Fam,

My husband and I are in the middle of purchasing our second property and we want to run the number right this time! Our lending is similar to ARV loan, where the purchase and renovation of the property is all included in one loan. We are using that one loan and do not plan to refinance or use a hard money lender.

In short, I do not know which calculator is best. 

I have used the Rental Property Report lately. My main issue with plugging in our loan information, is that the amount of the loan is automatically selected as the "Purchase Price" of the property. I have been going around this by adding the renovation cost to how much we want to offer on the property as the "Purchase Price" and typing in $0 on our renovation costs.

Another idea my husband had, was to use the BRRRR calculator, and treat the purchase of the property as the "Purchase Loan Details" without the rehab calculated into the loan, but with all the same details (interest rate, down payment, amortized years) and our "Refinance After How Many Months?" / "Estimated Rehab Time in Months" will be 1 (even though it might not be 1 month to rehab we though this was best for calculating the loan numbers?). THEN, on the "Refinance Loan Details" our loan amount will be the total we spend on on purchase and reno with all the same information as before on interest, DP, amortization, but have $0 closing costs.

What do you think fam? If our loan includes the purchase and rehab, what calculator would you use?

Bonus Round: How would you plug in the numbers on a loan like in the calculator of your choosing? (If different from what I explained above)

Thanks for your interest friends and folks. I appreciate your time.