How to calculate owner live-in rental property

[Matthew Byers]

Greetings all,

So looking at some property numbers with the niffty bigger pockets calculator and I'm having a bit of a time putting the numbers together. Here is the property situation:

Single family home with a separate loft. The loft is well built and i am sure it will bring good rental at about $800 a month. Now the single family on the other hand is in need of some serious work. Im thinking about 30K in repairs/upgrades. The plan is for me to live in the single with my family and rent the loft. The issue im running into is trying to put that into the calculator. When entering rental income do i only put the 800 from the loft or do i factor in the rent from the single family that i (hopefully) would be saving by not paying rent. So should the rental income be 800 or say 1300? 

Matthew

[Steve R.]

put in the rent you will be paying yourself

you still have to live somewhere and you could easily rent both places and be renting the same place somewhere else