Homestyle loans deal analysis

[Sean Tift]

Hi, my partner and I live in Portland, Oregon and we are looking for a home that needs some work so we can get into something below market price. We have a rental out of state. 

Our goal with the local purchase is to use a conventional homestyle loan and merge the costs of the repairs into the mortgage. Has anyone worked with this product before? What is the most effective method to calculate these numbers? We are using the rental calculator, but It seems like we could also use the BRRR deal analysis since our goal is to move out and eventually rent the property out after repairs.