These types of loans typically require at least a 10-20% down payment, as lenders want to see that you’re financially committed to the project.There are ways to get creative but they still require some form of skin in the game. 

There is a reason we lenders require "skin in the game" and experience.

Yes, we pay a fee for the coaching, that many of us feel is fully worth the cost, maybe having "skin-in-game" makes us more likely to take action and be excited about the company, but that is for you to decide. 

As a 3rd-party real estate consultant that has no skin in the game other than what I charge, I provide exactly what you've described—unbiased, no-nonsense, and straightforward advice.

Gotta have some skin in the game. 

I personally like one sponsor who has been through multiple real estate cycles without losing any investor money, puts very large amounts of skin in the game, is conservatively leveraged and has a very good 1031 exchange program.

I've seen some well-known syndicators brag about having "skin in the game" when the truth is they invest $100,000 in $25 million deal but take home $250,000 or more in fees.

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. 

With this scenario we both have skin in the game: His work and my materials.

They wouldn't have any skin in the game and could just walk away and leave you high and dry if things go wrong with the property.