That could turn into a bigger project then you might expect so make sure the numbers work even with a variance for unexpected costs.

It is not an issue to borrow money to pay the loan, however, your mortgage broker may have an issue with you not have the necessary cash to cover any unexpected issues for a few months. 

You are going to need to have 20% down, plus closing costs, and you will want something in reserves, a few thousand for the unexpected such as a vacancy or unexpected repair. 

Unexpected expenses always come up but they were only unexpected because I had no idea.  

If I had to give you one line of advice it would be this; ALWAYS pay back your investors first, stick to your guidelines/metrics and expect the unexpected.  

I handed the loan officer a Bigger Pockets calculator report and he unexpectedly told me he would give me an unsecured short term 90 day loan for the purchase price so I could do a cash offer.  

It sounds like this is shaping up to be a good investment property, in an area you know well and have observed positive trends in, so if as long as you have a little cash reserve for unexpected expenses (always pays to be prepared for the worst) and you've accounted for all the regular costs, then this may very well be a go!

This will allow for unexpected cost overruns and appraisal coming in lower than expected.  

But sometimes I am limited in what I can do in a flip due to constrained budgets or unexpected expenses that we didn't catch when we originally bought the house.3)Our first 6 flips that we did as soon as the 1st showing happened we were made a offer.

When you look at all the expenses, including vacancies, unexpected repairs, etc. will it make you enough that you think it will be a good investment?