Before you do your first deal definitely use the BP calculators!!

I calculate about an 800 dollar mortgage while collecting 1400 rent.

My last question is how would I calculate repairs into this?

Plug all of your numbers in the BP, Buy and Hold Calculator.10.

Q: How is the forgiveness amount calculated?

The BP calculator is not an accurate tool, in my opinion.

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

Then after the property has been rehabbed, rented out, & stabilized the refinance should allow you to pull most if not all of your invested money out (as long as your calculations have been correct) as a bank will give you around 75-80% LTV (loan to value) depending on which form of financing you go with.

It is a link to a pdf provided by the US Chamber of Commerce and shows the calculation of loan amount for sole proprietors and self-employed for those applying for the Paycheck Protection loan.

From what you've written, I'm not completely sure what you're trying to accomplish but I think you need a hard money calculator which I can give you in excel/google sheets.