Anyone that says the market won't slow/reverse is ignoring history and you can say the same about people who always say the stock market goes up and so does bitcoin.

Paying down a loan at 7% is a better deal than stocking away the extra cash every month in an account earning 5%.... 

My concerns are genuine in that I think flipping is a great way to upgrade Americas dilapidated housing stock and make money.

You can't add value to your crypto.You probably don't even know what your 401k is invested into (or, if you even SUPPORT the companies you're investing in.)You can't add value to your Apple stock or Meta stock.But you CAN buy a great property, fix it up, solve the problems, and INCREASE the value (and cash flow.)

You can:Go to other markets, or;Find motivated sellers or;Adjust your financial criteria to reflect market forces (either directly or through using some value-add approach after purchase), or;Hold off expansion of your empire until the Gods (market forces) see things your way, or;Pack it in and play the stock market.BTW, drop the "two months" self-imposed deadline: You will wind up doing a deal for the sake of doing a deal, trying to convince yourself it is "good'" not because it actually is "good."

I have a full time job that pays around 170k excluding stock options (which I would like to retain as a separate investment for now but I am open to use that for real estate if required).

and the low purchase prices often mask major deferred maintenance that can be a surprise - the midwest housing stock is much older than CA, AZ, NV, etc.i'd encourage you to save up for a house hack locally and then house hack while you continue to learn and savegood luck

We recently came to the US, and have around 150k of cash on HYSA and some stocks, that I believe smarter to not sell to have different type of assets for diversification. 

As long as your credit is good you, if your HELOC rates go up, you should be able to rinse/repeat that "0% balance transfer" option every couple years until the debt is paid off.There are alternatives out there as wellLoan on your 401k or IRALoan on your stock accountDown payment assistance programs that provide all or some of the downpayment money.

Maybe stock the house with homemade cookies for the officers too.