cash vs borrowing

Assuming I had 200,000 dollars in cash and was about to buy a house for 20k which needed 40k in work to become a 95-100k dollar house.

Can someone explain to me some good reasons why I should not use cash?

In my opinion it speeds everything up (including the purchase which is why I think I am getting the house at such a good price), allows me to take my time (it’s my first flip) and reduces carrying costs (since I won’t be paying interest on a note).

Even if I decide to keep the property for a rental unit I could always just do a reverse mortgage and get my cash back. Am I missing something huge here?

I agree on the cash deal, especially for that small an amount and when you are first starting. However, leverage is key in the real estate game, and you could use financing to purchase more properties with a down payment on each.

If you decide to keep it, you can’t do a reverse mortgage - those are special products not available to investors. You would just need to refinance to pull money out, or get a line of credit on the property.