Hello Ralph,Yes you can used a HELOC from another property as a down payment for a new one, then get traditional financing on the remaining 100K. 

Examples might include areas in the Midwest, Southeast, or Sunbelt regions.Multifamily Properties: Consider duplexes, triplexes, or small apartment buildings to increase unit count and spread risk across multiple tenants.Short-Term Rentals: If you’re comfortable with the management requirements, STRs in vacation or business travel markets can offer significantly higher cash flow potential than traditional rentals.Value-Add Properties: Look for opportunities to buy undervalued properties where you can force appreciation through renovations or better management.Decision FrameworkRun the Numbers: Compare the projected cash flow, equity growth, and tax implications of selling versus holding with a refinance or HELOC.

It’s great that you’re pre-approved, but I’m curious why you’re leaning toward traditional lending instead of hard money, especially for a flip?

Reason why is because FDIC Bankers "Do Not" charge points on traditional programs like primary homes, standard investment purchase and refinance, Second home/vacation homes.Lenders, Brokers all charge points to meet their Loan officer compensation plan (commission).

A single family house with a small HOA can still present a lot of risk, so tread lightly. 

That can hurt your cash flow and could equate to the same as a traditional long term hold without the headache and management.I'm not saying don't do it, I'm saying you have to look at all options. 

In one of them, we get a lot of traffic, and the other is very light.

On the contrary, uncertainty is the breeding ground for creating wealth.The core of the issue is whether you are willing to step out of the traditional investment framework and explore new business models and market opportunities.

Traditionally most lenders will require 25% down, however there are a handful that can do 20% down without any experience. 

Working with a good loan officer or mortgage broker can help you to get your file set up in a way that presents you in the best light to underwriters.