This makes it impossible to pull ALL cash out and REPEAT with my initial capital as they want some "skin in the game".Am I talking to the wrong people or was I under the wrong impression that BRRRR's involve all cash out based on solely 75% or 80% ARV?

To play devil's advocate (and keep in mind I have no skin in this since I'm in a different market):-You want to tailor to investors, then be prepared to sell at an investor price. 

What is the best way to handle it so that both LLC members have a skin in the game?

@Kyle DeboerEveryone is going to want to see some skin in the game.

That way the tenants had skin in the game and they also knew he had skin in the game as he was paying 3 parts.

I use Airbnb, VRBO, and PriceLabs for dynamic pricing.

Lakefront or forest view properties perform better.With an effective dynamic pricing strategy, you can still achieve solid occupancies in this market.

Even with HMLs, they would either want to see reserves, or you would still need to put in a little 'skin' into the game to make the deal workGood luck!

Finding deals outside of California can definitely open up new opportunities, especially given the cost of living and market dynamics in the state.When looking for properties in other states, consider focusing on areas with strong rental demand, economic growth, and population increase.

But, in my opinion, the nonaccredited offerings are generally pretty poor (sponsors generally don't have full real estate cycle experience, higher expenses, fees and promotes charged to the investors, less or no skin-in-the-game, etc).