Most seller finance notes have interest rates in the 9-10%+ range.Also, 5% down is very little skin in the game for the borrower.

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

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

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

This saved my skin on the exit!

We don't know you, we have no idea how you act under pressure, how much hair a sec8 tenant will have you pulling out or how thick you skin is.

Alternatively i could go for being a real estate broker and try to get experience in actual real estate without putting too much of my own skin in the game.

I also want high skin in the game, conservative leverage and reasonable fees.Open-door isn't a match for me (and an easy "no") because they don't have that type of experience.

The lenders simply are not interested in financing a deal where the buyer has such a small amount of skin in the game.If you don't mind, can you touch on how you were able to obtain the type of financing structure that allowed for a seller-held 2nd mortgage? 

This is why you need to do a ton of due diligence on them and make sure they have skin and the game and something to lose.