This home had a HUGE delay that cost us thousands of dollars.The group that put in the underground plumbing dug the plumbing too low, and by the time we caught the mistake, the slab had already been poured and the septic tanks installed.We had to dig up the septic tanks, install a lift station, and reinstall the septic tanks.This all happened during 2 hurricanes, which caused even more delays.Time kills deals.This is why you need to 1) be conservative with your timelines and costs, 2) add contingencies to your budgets, and 3) have a healthy profit margin.

The buyer must have 20% to 30% "skin in the game." 

and you can find an almost unlimited variation on risk ( from low to high leverage, both floating and fixed rate debt, from no to high skin in the game, etc).

Does the sponsor have skin in the game?

You have no skin in the game! 

There are many ways to skin a cat in syndication.  

Problem is theres slim to none investors that are going to allow you to get into a property with zero skin in the game. 

I can’t stress enough how important it is to stay focused and avoid some of these common pitfalls early on.Quick thoughts:Find the right Realtor – Make sure they’ve got some skin in the game with househacking or investment experience.Budget = Game Plan – That pre-approval is your marching orders.

They charge $500 a month plus a $350 set-up fee plus whatever you spend with Google or Bing to run the ads.DIRECT MAILIf you have a pretty healthy budget to spend, then direct mail might be a good choice for you.

You'll develop tough skin and it will make other seller calls (i.e.