Personally, I wouldn't invest w/ a first-time lead who has no "skin in the game", and prefer that even seasoned deal sponsors have aligned interests via their equity investment.  

Good Credit, guaranteed money back, skin in the game (money down)????

When I lend money to flippers I insist for them to have a skin in the game.

They want you to have skin in the game.The bank's term sheet or commitment letter will state that they will lend you the lessor of XX% of the appraised value or purchase price.

you can tell from my picture that I do not resemble the main stream  shape or skin color . 

Second, you would effectively have no skin in the game.

I thought that was fair - he is also going to look into getting a line of credit to throw a little cash into the deal or keep it as a reserve so he has some skin in the game.  

It worked out well for him, because he basically got a "turn key" house that he could "test drive" for a year before actually buying without much skin in the game on his end...

We do pay Elite on the back end, but they have ALL of the skin in the game.As the owner, my role is to recruit agents, train them, provide structure and accountability, identify the obstacles that slow them down, demolish those obstacles and then to get the heck out of the way.I absolutely love this business and love even more helping agents to make an unreasonably high income.  

Smaller banks and commercial lenders may allow an assumption but rarely as they would rather make a new loan and an assumption may not have any new buyer's skin in the game, not a good lending practice.