I have already gained so much knowledge from the BP community and I have only scratched the surface. 

I feel its more ethical to have some sort of skin in the game.

My first purchase I used a partner to obtain the bank financing as well as the down payment so I was zero out of pocket on my first 4 or 5 deals (all of which with purchase prices well under $200k.There are many ways to skin a cat so if you don’t qualify for the traditional bank loan, get creative but in doing so, be very careful in using OPM.

There are a couple of other ways to skin that cat depending on the situation and amounts. 

It looks like persistence, consistency and a thick skin can get you through the door. 

If anything has been permanently affixed to, or modifies the original 'skin' of the home, it won't be good news for the bank loan. 

If 15k is your starting budget I would try to find hard/private money for the purchase and your funds for the rehab to show you have skin in the game. 

Although it can be a revenue source, I think many landlords just charge an application fee so this way the potential tenant has enough skin in the game. 

They have more skin in the game then you do.Make sure you get clear title.

If it's fully financed then you have no skin in it and your return is higher, theoretically 100%.