From the lenders point of view, they want to see that you have "skin in the game" that way if you do run into any complications, you'd be more motivated to address them as you are invested financially in the project yourself.Regarding the tenants, I'm a bit less experienced in that regard.

I've also since realized that I don't think my personality matches up well with the thick skin needed to be a landlord, and the deals I've found (yes, I know many can say I'm not finding good enough deals) don't have a ton of room for property management fees (or if they do, they're in areas that I would never want to have to go - and I would if something ever happened w property management). 

Last thoughts on being a GC, if you have a track record, it's very encouraging for investors to partner with you as you have skin in the game and can show them previous projects you completed successfully.

It sure makes sense  - the builder has no skin in the game in controlling costs whatsoever.

Also makes them put skin in the game.

If possible find a local partner that can potentially put some skin in the game. that local partner can then become your eyes and ears on the ground2.

No one has more "skin in the game" than a PMC as they have to deal with the property every day until an owner sells or fires them.Also recommend finding your own Inspector and not one referred by an agent.

@Ariel GonzalezI would like to know how much capital, AKA, skin in the game they have.

So I require skin in the game (average is 5% to 15%) to offset this.

I suggest an aggressive principal pay down so they can have skin in the game.