If you’re considering leveraging hard money lending (HML) for this flip, it could be a strong alternative to traditional financing—especially since HML is quicker to secure and designed for investors aiming to flip properties fast.With HML, you’re typically looking at covering a significant portion of both purchase price and rehab costs, which keeps more of your cash free for other expenses or emergencies.

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I saved up the down payment for a few months and have a few remaining as emergency funds.

The discipline to run on a budget for a number of years or decades depending on your math, doesn't factor in emergencies or market changes where the HELOC could be used to invest in other places.

(A lot of states, they can easily pull emergency assistance, and the court case get automatically dismissed) If they are pro at this, you have no way to win without a super experienced PM and legal team.

I don’t know how common vacancies are but I would say I could cover about 4-6 month in case of an emergency  

While you might find a lender offering low down payment options, you'll still need cash reserves for repairs, maintenance, emergency fund (ideally 3-6 months of expenses), etc.

Meanwhile, others who had boiler rooms, or several of you (money bundlers -  aka "fall guys") will emerge unscathed. 

, takes the edge of the emergency and buys us time to get a contractor out without having to pay for emergency hour services.

Usually a pattern will emerge on a 'normal' deal in your area.