BRRRR calculator help

[Allen McGlashing]

Hey everyone,

I just seen this posted on one forum, but after hours of searching I couldn’t find it again so I figured just start another one.

My question is on the BRRRR calculator when running the numbers using hard money loans that fund 100% rehab cost should I just factor the rehab cost into the purchase price because the rehab money isn't coming out of pocket. I have found a HML that funds 80% of the purchase price and 100% rehab. So money out of pocket would be only 20% of the Purchase price. I know there are plenty of people that are way more experienced and know this answer. 
Thank you, can’t wait to hear your responses.