He payed for the rehab (about 15% of project) until we would sell, so that he had some skin in the game.We would split profits 50-50 and any cash flow if we rented.I ended up buying him out as he wanted to sell at a lower price than we had originally agreed, so keep that in mind when setting up your JV agreement.

Usually they like for the borrower to have at least some "skin in the game".

The ones i know want you to have skin in the game and that means you come up with 20% down.

If they did not do their job then who cares, Time for thicker skin.'

I hate how some judges think they can tell you what you have to do with YOUR rental aka home when they have no skin in the game and you have done your job and many times beyond what your job is....

but if you hadn't I wouldn't have necessarily known to look back at this thread unless you tagged me.I can only tell you my limited experience, which is that the vast majority of commercial lenders want 75% loan to value and 25% down payment so the investor has "skin in the game".

They will provide you a list of those lenders but they typically require you to have more skin in the game.  

She may complain saying "She didn't know" and to a certain extent I might be inclined to agree to a partial extent, but it really gets under my skin that this has never happened before and now that she's in there with her baby it's happened after less than a month. 

Another concern I had was since the 'Managing Partners' had 'no skin in the game' if the deal was making negative cash flow at year-3 they could decided to call it quits and effectively wiping out the passive investors' principal.

You want to syndicate a deal but the most important ingredients of it are your track record and your skin in the game.