First Investment Property - Buy Property w/ Cash. Loan or mortgage after the fact?

[Chase Preston]

Hi all.

Making my first step into the real estate world. Started an LLC with a best friend and putting a cash offer in on a bank owned property. Planning a flip of the property with 50k cash buyout + 40k estimate of renovations.

We've considered paying cash for property, obtaining loan for 90k-100k and paying ourselves back first before starting renovations. We have the capital to pay for entire house + renovations with cash as well. We've considered home equity loans, HELOC, even credit card with high limit and 0% interest for many months.

Any direction you recommend?  We've spoke with multiple banks at this point to get a few options.  Main goal is minimizing risk with it being our first property but was able to obtain the house for 40+% less than listing price due to our cash offer and able to close ASAP.  

Thanks