Using the BP rental calculator - FHA

[Alexander Storer]

I'm currently looking to purchase a multi-unit property (owner-occupied) financed by FHA and have been using the BP calculator. In using this calculator, is it correct to analyze the deals I'm looking at as if I was going to put the entire 20% down? Or should I still be analyzing deals with 3.5% down? It seems as if I use the 3.5% down rule It will be near impossible to cash flow and I will be at a disadvantage to other buyers who have 20% to put down. As clarification, I include the 'rent' that I would 'pay' myself in the analysis to see if it cash flows / it's a good deal.