You mentioned the risk of an unsuccessful flip.

The Homeowners Insurance will include Builder's Risk.

Hi Chris, there are several options you could consider, but it would all be based on your risk tolerance. 

It also is heavily full of risk. 

I’m also open to exploring short-term rentals, private lending, or passive investing in funds—anything that maximizes returns while keeping risk and time commitments manageable.For context, I’d consider leaving my job if this could become a full-time venture that surpasses my current compensation (low-mid six figures).

If this was the case, you risk putting yourself and the property at risk.

While the debt would whip out most of the profit for 'x' amt of time, it would seem to be logical to take on the risk at a net zero income for x amt of years if after that point, the cashflow is all positive.

There is no stock account that gives the leverage real estate does, at as low interest rate real estate does, at as low risk/ volatility real estate does. 

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

Your credit at risk and might affect your ability to buy a home in the future.