Typical "skin in the game" stuff. 

For your first investment, the best thing you can do is team up with an experienced investor to help walk you through the process and help you get some skin in the game.

I would suggest networking and considering partnering up with an experienced investor to help you get some skin in the game.

I was pretty shocked as obviously race or skin color had nothing to do with it.

Another one I did, I was not going to do much to increase the value so I put 15% down and the seller held a second for 10% so that I had some skin in the game.Also keep in mind that it is hard to cash flow something that's 100% financed.

I told him he might be better off pursuing this on his own as he would have all the skin in the game initially but he insists on me helping him and holding him accountable.

The bank will then loan you up to 80% of the total cost so you would have to have some skin in the game and they are not going to front you any of the rehab money but will release it in draws once work is being completed.

Thanks for the comment about the flak - I've got thick skin, no worries there. :)@Vincent Crane your comment about city/permits/etc - the tenants aren't Section 8.

They like to see more skin in the game by the development team.  

I would imagine the partner would want you to have some skin in the game.