A first position lender (the one that provides 75% loan) would not likely loan you money if you don't have "skin in the game", i.e. down-payment.

*One unit will be occupied by me*The current deal(s) I have negotiated -Purchase Price: $518kCredits: $7k credit for closing costs (from owner)Financing: 3.5% down ($18.1k down)orPurchase Price: $539kCredits: $7k credit for closing costs (from owner) and $21k credit to my pocket (cashiers check).Financing: 3.5% down ($18.9k down)Essentially, I get my down payment back and have no skin in the game.

If you borrow 100% of the purchase price, you have no skin in the game and it's easy to walk away.

The plan is that is the skin I put in the game and then they will pay for the renovations and then I can either sell it and make a profit or keep it and do short or long term renting.

My wife is very fair skinned.

There are many ways to skin a cat.

There're many ways to skin a cat, as they say, and it's really up to you as to which way to play.

First lien basis, so you can’t borrow the down payment from them.Most lenders want a borrower to have a certain amount of skin in the game, so LEGALLY being able to put together a nothing down deal is MUCH more difficult than it used to be.A good-great deal can be syndicated, but the money investors want the vast majority of equity ownership, leaving relatively small amount of equity for the “promote”.

@Laura Chevalier So there are a lot of ways to skin the cat on this one.

I'm also interested what it's been like for landlords but since I've just started Im looking to just getting skin to put in the game for now. any advice would be greatly appreciated thank you!