Do you feel, given the current state of the market, the risk is increasing in this type of investing?

They got us 10 DLC approved fast and we've been able to increase our texting volume to 1k texts a day with no problems.

There rental rate will increase with inflation and time. 

•Increased Security: Enhanced penalties act as a deterrent, helping to keep your property secure from unlawful occupation.

If you don't have savings to get more property, the leverage would only increase and the risk so why risk something when you are creating a strong foundation?

Converting the entire property to a rental later allows full deductions but eliminates primary residence tax benefits, potentially increasing capital gains taxes on sale.

TIAErich  Erich - I would echo other's comments, but also point you in the direction of a Bigger Pocket book, "Estimating Rehab Costs" - It's a 2019 version, so the actual dollar amounts will need to be increased, but it can give you a good starting point for the process that you can refine/update over time. 

You say you are new to flipping so maybe consider teaming up with someone more experienced for your first flip to increase your success rate?  

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The fact someone wanted to show a 20% versus a 15% return by using a lower interest rate, meant increased risk, which you either win or lose, since you're gambling.2.