There is no Depreciation for Flipping property.

You post the Cost of the property and All Improvements as Asset = Construction In Progress or Work In Progress. That includes construction loan interest and any Costs for labor, materials, permits, etc.

Once the project is Done, you now see your Total invested.

When the project Sells, this is Gross income. The Deposit to banking is Income. You can do this with a Sales Receipt.

Additionally, you will Clear out that Asset account balance for your costs, to Zero, and that entry is put to Cost of Goods Sold, for the same date as the Sales.

And now your Reporting show the profit: Gross income minus costs, at the bottom of the P&L.

Don't enter Profit. Enter Gross = everything in full.