It depends entirely on the value of the end product you are flipping.

Questions: 1) what product did you use to glaze or paint the bathroom wall tile? 

With this method you are getting quality and saving on some labor and product waste.  

There are other loan products around that only require 5-10% deposit (but, higher interest?)

content creation?

In the meantime, the creation of a situation that that is mutually beneficial instead of paying a bank is preferred with both parties. 

When you do plan to purchase, you will have your FHA loan available again, and could always look to a HELOC on your current property if you wanted a different loan product.

In my opinion, consistent rates of return > 10% on most unlevered products is usually not truly sustainable.Best of luck.

Being debt free is on my personal side I think is important to wealth creation.  

@James Masotti   pref at 8 t o 10  with IRR 20 plus... and if your buying SFR rentals 20 plus IRR over a 5 year hold is almost impossible.I don't see SFR's as a great investment vehicle for larger partnerships UNLESS the operator is buying at court house steps or other Highly distressed RE and they are coming into the product UNDER current market value by a nice chunk...