Is it true for everyone all the time?

Sounds like you put in a Bonafide game player but no worries, they suck at the game.

They are just partnerships with local teams and the true beneficiaries here are FS and the teams at your expense.

This will give you extra cash flow in the first year and/or the early years to maximize your tax benefits and make your dream come true.

If the property appraises for $500,000, you would only be able to cash out $375,000.Would this still be true as a primary residence or would we be able to find something like 5-10% down on a 30 yr loan?

IF it's too good to be true, then it IS!

As such, many aren't incentivized to advise you along that path (sad but true).

True off market deals are ones that you find yourself, direct from the seller without a wholesaler or any other middle person involved. 

Potential Equity is not skin in the game. 

True, another good option is to link forces with another wholesaler and advance it together.Good luck!