Owner Occuppied Income Statement

[Frank Lewis]

I am putting together a business plan based on How To Write a Kick @$$ Business Plan. So while working on my Financial Management section I came to an interesting thought. Should my personal costs of living be included on the Income Statement? If I am owner occupying a part of the home, doesn't that then make that a personal obligation outside of the rental business? I see this as an interesting question because had I rented all available space of this property, I would not then put my personal residence (a different property) on the Income Statement. What are your thoughts?