Figure out how much skin in the game you will have so you can tell the bank your down payment. 

Being that I had no "skin in the game", I offered to manage the project from start finish and take a smaller percentage than the investor( I.E. %30 for me, %70 for the investor).

By having that in place, two things will happen:The seller will be motivated to sell on a lease option because they're getting some money down and they feel some assurance that since the tenant has skin in the game or something to lose, they are not going to tear the place up; andYou will know the tenant is really serious in buying the house.

@Julianne Croegaert Post possession deals never work out the way they are outlined at the closing table unless the seller has some skin in the game.

Yes you need to put one down and yes you will have some skin in the game.- closing costs including points,  fees of various descriptions, title costs, insurance, and appraisal...- rehab costs, at least until the first milestone. - reserves for cost over-runs and unexpected emergencies- servicing the loan until the property is stabilised or flipped or whatever, once again this might be longer than expected.Best of luck with your future BRRRR empire! 

Protective equity... if you were to default the lender has greater protection, and it's assumed the more skin you have in the deal the more motivated you are to make payments.

Should anything go wrong, they have no skin in the game and will bail on the deal.

You are going to need skin in the game unless you can find creative solutions like owner financing, friends/relatives happy to take a second lien position or whatever. 

They have more skin in the game then you do.Make sure you get clear title.

Originally posted by @Kamal Tripathi:@James WiseLike the way you have mentally split business with life...they are two different things Yea I evict around 100 or so tenants annually so growing thick skin is a must in this business.