Like others have said there are many different ways to skin a cat.

I don't think they are given a takeaway number here, it's more of a guide to decide if there is skin to buy.

It's been done since some cave man let someone sleep on his wooly mammoth skin in exchange for deer meat.There are 10000 homes for sale.  

Typically they don't need the cash but just want you to show you have skin in the game.

Once you get down to the studs in the walls and the floor skin is gone you can see where you are.

Typically, a hard money lender will want you to have some "skin in the game" by putting down some of your own money.

They are lending based on that you can put done money (you have skin in the game) and that the property will cash flow (tenant will pay the mortgage)We have about 21 units now.

The lenders want a lot of skin in the game and want to make sure they are kept whole and any losses are yours.

Hi Taylor,Free work in return for lowered rent might not be such a good idea.It would be Smart to go in person and see examples of the person's previous work (of the same kind you want done).I've seen (for example) gypsum board punched holes replaced that were  -->99.999% Invisible<-- and on the other hand, tub work by the same individual that was "childish" at best.I've had other instances of Handymen describing their work in various glowing terms, and according themselves with various (made up) glowing titles (master this, and certain grade experts)--claiming unbelievable past projects--who were no-shows or no-finishers.It's best to understand what the repair needs yourself, such as "Blue Board" or "Purple Board" and sealant XYZ vs just relying on statements such as I have done these for years--yes that may be true, but at what quality (if quality counts to you--it may not).You also may want to spec that you want the area left Broom Clean when the work is done, and make sure to provide a dumpster if there will be large demo taking place.Good Luck!

If you think "U may learn something" from your posts, it's that you have no skin in the game but a boatload of opinions.