So leveraging your investment, be it buying real estate on debt or buying stocks on margin, exacerbates that risk.    

I would like to think of a way to make this work with a few out of state investors, maybe a type of skin in the game arrangement, I think that is what local PM lack, they are not investors, only business owners.Be happy to talk if you like.Pete

4) Time frame for borrowing money 5) Cash/Collateral to put in (your skin in the game)- Also they'll look for your experience level.  

Thanks, Wayne  They've been together at least 2 years 9 months, and have skin in the relationship in the form of an infant.

No, but they'll want some more skin as you ask for extensionsPersonally my goal is to refi out in 90 days, get it rented and then take out a 70%-80% ARV loan at a much lower rate

I grew up watching my Dad rehab, flip and rent homes, so I've seen (and done) some of the grunt work, but I have yet to get my own skin in the game.On the flip side, my Mom has had a house that I've worked with a property manager to keep rented for the last 10 years or so.  

I would think 50/50 make sense but on the flip side I am a bit concerned that only myself is on the hook for the loan, assuming LTV of 70%, I am thinking I would have 85% of skin in the game as my partner would only risk his 15%.  

But going back to @Jeff Sprunger comment, does skin in the game specifically refer to liquid cash that you personally have available to use for the project, or could that also include personal loans taken out in your name to show that you have a vested interest in the success of the project?

If you are doing a conventional loan (30 year, fixed rate FNMA/FMCC mortgage) then what you are proposing might not work.If the seller is providing a secondary mortgage it is very difficult to keep that information from the lender and they will likely not approve of you having very little (or no) skin in the game. 

Here's what I learned from a second commercial lender.Even if the appraisal comes in sky high, the lender wants the borrower to have skin in the game, which in the case of this particular lender, is minimum 20%.