Not sure what to do with line of credit

[Benjamin Voorhis]

Hey all, I am a beginning real estate investor and just received a line of credit from a private lender for 100k.  My wife and I have about 40k in savings for just real estate.  I am honestly not sure what the best route to do with the line of credit?  I like the idea of flipping homes, and I really love to the idea of buy and hold long term investments.  I just dont know how to incorporate a line of credit like that in to a buy and hold strategy, besides paying all cash for a property and doing a cash out refi at the 6 month mark.  Just wanted some thoughts about what some experienced investors would recommend.

Thanks!