Of course, there's no perfect right or wrong answer, it will be different for all but make sure you do what is comfortable for you and what fits your goals. 

If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

To flip right is about a lot more than just renovating and *pow* $-rains down on a person.

It’s also worth connecting with a property manager and contractor early, even if you don’t need them right away.

I attend one in Frederick which is online right now. 

Assign a contract: This is where you get a property under contract and you "fee" that you collect at closing is for giving the end buyer the rights to execute on the contract.

, whether there's a high water table that encroaches on any underground utilities or foundations (and does that water table have significant seasonal water level variations), encroachments by roads or other improvements on your property, limitations imposed by easements or rights of way, etc.

Right now, you may be looking at it as scalable, but assembling a team without a track record is hard because some may end up being leeches.

Most 1-4 unit real estate investors are using DSCR loans right now for any buy and holds while flippers lean on higher leverage bridge/fix and flip loan options with higher interest rates.

I appreciate that, and you're right, any back-of-the-envelope calculation suggests that much of the wealth comes from the equity accumulation, even in the earlier stages of the amortization schedule.