I also would suggest building a strong team around you or partnering up with an experienced investor for your first few projects to help you get some skin in the game and walk you through the process.

Just to offer a different perspective, its not unusual in other markets for professionals to not have a lot of skin in the game and the reasons for this vary:1) They are good at going the on the ground stuff but bad at raising money.

The restriction requires that you as the buyer has "skin in the game" to ensure that the 1st lien holder is not the only one at risk.  

So I think it's not really the ability for the property to cash flow, because you can get pretty much any property to cash flow, but rather a function of how much skin you're willing to have in the game, and more importantly...your cash-on-cash ROI.  

I would suggest building a strong team around you for the first few investments while you get some skin in the game.

If you've owned the property for less than one year, most banks will not allow you to pull out any equity, just reimburse your expenses in the new loan amount, but keep skin in the game from your initial deposit.  

You'll need a bank that's willing to lend you this amount with you having "no skin in the game," but since you'll be acquiring a commercial loan and not a residential loan, seeing as that's how financial institutions classify investment mortgages, you shouldn't have any problem finding one who will (you'll just have to search).

If you are going to have skin in the game then I would definitely say buy it , fix it, and retail it yourself.

Consider a JV.If the deal is that good, put some skin in the game with a partner and build a relationship.Otherwise, disclose your intent as the sellers clearly will have issues when you want to assign the contract. 

Best thing you have is skin in the game ...plus knowledge so it should be a breeze to connect with other members.Hope that helps