How to analyze a 203K loan using BP calculators

[Ana Coello]

Hello BP community!

My partner and I are excited about our journey into real estate investing. We already got pre-approved on a loan amount and are looking to find a deal. We live in an expensive area and are trying to be smart about our first house. We want to house hack. We don't mind sweat equity and wouldn't mind getting a house that needs some work to make it work in our area. 

That said, we have found some houses that we think may work but when we get to the "BRRRR" BP calculator we have some questions:

-How do we factor in that the rehab is financed with a 203K loan? 

-Do we count the rehab money in the original purchase price? 

-Do we put "zero" for repair costs? 

-Is there a box missing to finance repairs or are we missing something?

Warm wishes,

Ana