In order for both side to have “skin” in the game I have either a $50 a month pet rent OR one months security deposit.

BP has been a big part of that, and we've only scratched the surface of the resources here (podcasts and blogs, mainly).So we're excited about starting out!

I am looking for a mentor, not looking to share profits(unless I have some skin in the game), otherwise I am willing to do some of the day to day stuff that you don't want to spend your time on. 

From experience, hard money guys like to see at least 15k (your skin in the game) in the bank before they will give the green light on funding your projects.I have not personally done any wholesaling, but from what I have gathered, you would have plenty money left over for a good marketing campaign!

I'm in Tx so your laws may vary and I'm not an attorney:You have a choice to severance the mineral estate from the surface estate. 

With conventional financing, you have to have "skin" in the game.

But, being the newbie I am, I am questioning how to know if a bank will approve a refinance.The property does not (on the surface, no inspection yet) need any serious rehab, mostly fresh paint and carpet here and there.The property is almost fully rented and would generate positive cash flow from day one.What other factors might play a part in whether I'm approved for refinancing?

@ Corey, not bad advice on the surface but again, why?

@Darnell Palmer Lenders want you to have some skin in the game if it isn't a primary residence.

Thank you BP for the wealth of knowledge I've gained from this site already...and I have a feeling I haven't even scratched the surface :)Cheers,Erika