Here's an interesting video that's been doing the rounds online recently. DJ Premier in New York, recreating his classic sample flip for "Full Clip". In this video, it looks like Preemo is basically playing the original track (Cal Tjader - Walk on by) and then using his cue points to recreate the flip, before dropping his version - a classic move.
A unique feature to Serato DJ, Serato Flip lets you do the same thing, but with a little more power. You can replay this same sample flip (or anything else you'd like to perform with cue points) but then record this as automation in Serato DJ, which you can then loop, so you can move to the other deck to mix in the next track.
Here's Logan from Serato HQ with a walkthrough of using Serato Flip for pre-preparation of DJ Edits but also to play with live.