CIBC has recently tightened-up and lowered their limit into the 5-7 range ... previously, they would entertain up to 10 {residential} mortgages before applying strenuous liquidity requirements that discourage you from borrowing funds. 

We are fortunate to have saved up quite a bit of liquid cash that we are prepared to start growing into financial independence. 

first he needs to see 150k liquid in bank statements and 30% down....I'd ask him for clarity but he designated some friend as a middle man and I cannot get ahold of the seller.

When you are just starting off and are looking for financing from Banks, the more money you have in liquid investments, such as stocks in your 401K or IRA, the better. 

So rather than saying do or don’t do flips this late in the cycle I’d recommend allocating a conservative portion of capital towards flips and keep a heavier portion of capital liquid to capitalize on phenomenal deals as they become more prevalent.

So if you can be a cash buyer, be a cash buyer.To recoup your liquidity, check out some of the threads on here about "delayed financing." 

Getting ready to liquidate a former primary residence in another state and will likely clear around 100k, then looking to reinvest into a much more affordable market (st louis) where I now live.

If you want to invest in real estate, then I would keep my money liquid and not put it into a qualified plan.There are other vehicles that give your money tax free growth and you still have the ability to access it. 

My wife (25) and I (26) are in Clearwater FL, we want to educate ourselves on flipping, liquidate an investment of ours and then get into it.

Looks like a good flip to get some liquidity though!