@Chris Bork - While HML will lend on acquisition and rehab costs, they will usually require you to have skin in the game.  

That may mean a full price offer and enough to cover costs. really your chance is much better with 10% down, most Realtors will buy that as skin in the game.Sometimes you can back into the deal with payments at about 75% of what their rents were, rented at $600, take out taxes and insurance, say they netted $450, your payment could be $337.50.  

Maybe they'll share their secrets on teeth whitening or skin blemish removal.

They will want more than $10K skin in the game. 

It wasn't worth paying what the buyer bought it for so its no skin off my nose that I lost out on the sale.

Wholesaling is NOT an industry, it is providing a service in real estate.Real estate agents can make really good money, but they do so under legal and ethical constraints at a commission level that has a very long standing in the industry.Another aspect to setting fees is the financial risk taken by the entrepreneur, do they have real money invested, placed at risk, or are they simply a no skin in the game transaction facilitator, like an agent?

but, if you're going to, somewhere, somehow, make sure they have some skin in the game (like option #2)...but that's probably too high of a payout anyway.  30-35% might make more sense. 

Well unlike Account Closed  advice I don't think he saved you 25k in fees  LOLthis is quite simpleyou have the developer sell you the lots.. on  contract  .. the developer then subordinates his beneficial interest in said contracts to the Banks construction loan.. you are the owner you build and then sell.You can do a participation note with seller.. so they get a fixed number plus a little interest on the note and then a % of profit if you wish.now the only wrinkle will be if the construction lender will allow a junior loan on this and you having no real skin in the game.If the construction lender wants the lots as true equity.then you would need to for a JV agreement with developers portion the lots.. and what ever your business arrangement is.. if the developer has less than 20% interest in this newly formed LLC for these two build jobs.. then they will normally not be required to sign on the construction loans.Construction loans in today environment are very tough especially specs.My Portlandia bank will give me 12 specs and my Charleston bank will give me 6. so i can have 18 homes going at one time.  

I would imagine that the details of how builders structure partnerships vary based on the specific nature of the deal and the parties involved (how extensive is each person's track record, how much money will the investor be expected to invest, how much money are you willing and able to invest to show "skin in the game", etc.). 

Noone wants to do a deal with a noobie unless they have skin in the game, offer a return or some other concrete skill.