Almost all banks want you to have "some skin in the game" or have some money in the property.

The first hurdle with that would be finding someone willing to loan you the down payment and rehab costs when you have no skin in the game and they'd have to be in second position behind the conventional loan. 

I am curious to point 6 about having difficulty getting a 30 year note?  

It doesn't sound like you'd have any skin in the game - and you're new. 

Real Estate is sales, you eat what you kill, so it's no skin off their nose if you don't produce.

After difficulties refinancing, we decided to finish fixing it up when the renters moved out and sell.

For lending institutions holding residential notes they want to sell, the action is mostly in the NPN arena.Because of the difficulty for the average investor to find a good note and buy it, many have invested money in funds or in partnerships that originate private or hard money loans, which is a second cousin to the discount note business.For someone who has $50,000 or $1,000,000 to invest and is satisfied with 8%, achieving this is quite simple and quick.

If you have no skin in the game, I would say 15% is reasonable.

If they sell you a property and then sign you off to a third-party PM, that's another team you need to vet, and means the TK company has less skin in the game (ie once you close, their work is done).They should have solid, data-backed answers to your questions at-the-ready.

I am having difficulty finding a lot of people who have done this, and I would really like to learn more about it.