Grease and line two 9-inch round cake pans with parchment paper. Preheat your oven to 350°F (175°C).

In a large bowl, whisk together the flour, granulated sugar, cocoa powder, baking soda, and salt until well combined.

In another bowl, mix the buttermilk, vegetable oil, eggs, vinegar, vanilla extract, and red food coloring until smooth.

Combine the wet and dry mixtures, stirring gently until the batter is smooth and a lovely red color forms.

In a separate bowl, beat the cream cheese until smooth. Add the powdered sugar and vanilla extract; beat until fluffy and creamy.

Pour the red velvet batter evenly into the prepared pans. Add spoonfuls of the cheesecake mixture on top and use a knife to swirl them together gently.

Bake in the preheated oven for 30-35 minutes, or until a toothpick inserted in the center comes out clean.

Let the cakes cool in the pans for 10 minutes, then transfer them to a wire rack to cool completely.

Once cool, frost the cake with any remaining cheesecake mixture or your favorite cream cheese frosting. Decorate with attractive swirls or crumbs for a beautiful finish.