I just know once I can get a little skin in the game and some experience gained it will start to work more in my favor.

Almost all banks want you to have "some skin in the game" or have some money in the property.

The first hurdle with that would be finding someone willing to loan you the down payment and rehab costs when you have no skin in the game and they'd have to be in second position behind the conventional loan. 

It doesn't sound like you'd have any skin in the game - and you're new. 

Real Estate is sales, you eat what you kill, so it's no skin off their nose if you don't produce.

If you have no skin in the game, I would say 15% is reasonable.

If they sell you a property and then sign you off to a third-party PM, that's another team you need to vet, and means the TK company has less skin in the game (ie once you close, their work is done).They should have solid, data-backed answers to your questions at-the-ready.

Also dont get over your ski tips.. your taking a junior position and as such you should make VERY Big interest like 20% or higher. or part of the profit.. because in essance your person is doing the deal with no skin in the game cash wise.. what happens in a water landing.. and the first goes into foreclosure can you stroke and check and pay the first off. 

I will check with sponsor if they are co-investing in this deal to know that whether they have their skin in the game. since you guys are in the syndication offering, so wanted to see if you see anything that is not in-line with market offerings or any other red flags.

By having skin in the game, I became more aware of the market (nothing focuses attention better than having money at risk).This type of split allowed me to make tweaks as circumstances changed.