[Calc Review] Help me analyze this deal in Austin, TX -Jake

[Jacob Pham]

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey I am super new to real estate. I have been binging the podcasts and wanted to try out the calculator. There are many assumptions I am not sure if I got right. There is this multi-family we want to buy for 515K in Austin, TX area. We would live in one side and rent the other side. Both sides are 3 bed/2baths. The calculator asks us to type in the income if both sides were rented. I think we can get 1500-2000 in rent for ONE SIDE. I conservatively put in 3K total rent if both was rented. Right now the calculator say we lose money each month because the cost is ~4K to live in the house. Yet my view is that we currently rent for about 1600. We'd be increased our living space, getting help with mortgage and paying only a small additional amount (1600 current + 1500 help from renter possibly 2000) of approximately 900 more than our current rent to be in the game of real estate.

Questions:
1. Is there a calculator for multi-families you plan to live in one side?

2. Am I looking at this deal all wrong? I am new so go ahead and tear me apart.

Thanks for any help. 

-Jake