NO skin in the game for the sponsor?

But you note that Blackstone is a major investor in Austin, so the contrarian point is to NOT invest in Austin.I have no skin in the game either way.  

They pull any moisture they can get out of the air, so if there are any small cracks or openings to outside air they will just continue running, filling up their tank from the moisture in the outside air and not working efficiently at drying out the space you’re trying to dry very well.

However I would not consider them to be truly passive because they do not put any skin into the game like a good passive investment does (via a sizable coinvestment).

Now that I have skin in the game, I'm definitely feeling the policy decisions impact me more so than ever. 

I worked in casinos dealing cards, while I don't have any type of security or police type background I grew some thick skin.

You can hire an agent just to show and be a body if they are willing, While its not perfect, ChatGPT is a great tool to ask initial questions and get a launching pad (always verify what it tells you)  - @Drew Sygit - Good point about getting someone to help you with screening if they dont have any "skin in the game" so to speak.

@Tony Sherman, yes.Closing delays on buy side with title issuesMaterial delays, which can compound into contractor delays when you try to keep schedules tightContractor delays because prior jobs are not wrapping on timeContractor delays because you need to fire one and hire a new oneScope of work issues, i.e. no signs of moisture intrusion prior to buying, but all of a sudden you have a wet floor after a good hard rain.Closing issues on sale sideHow do you manage?  

We do lots of JV and have found that the best relationships are where everybody has "skin" in the game.

Ideally I have skin in all three options for buying and holding as well as BRRRR down the road (diversifying).