Cash vs Financing for Fix & Flip

[Adam DuCharme]

I'm getting ready for my first flip project. Is there a rule of thumb of what costs require cash up front vs what can be covered via loans? From what I"ve gathered on a few posts, I believe the hard money loan downpayment, closing costs, and holding costs likely require cash whereas the hard money loan, renovation costs, and selling costs are essentially covered via loan/after selling. Am I off base here? I want to make sure I'm budgeting correctly.