$15m in EB-5, large skin-in-the-game from the local Seattle developer who put in 25% in equity through the land contribution, 75%/25% JV, blue-chip architect & well mapped out condo project.

The Buyer has no skin in the gameIf someone is approaching you to buy your house without a mortgage or conventional financing and are tying you into a long-term contract they better have some sort of collateral that they're putting up.

However, I don't have any skin in the game for mountain vacation rentals.

The difficulty in this strategy is getting the numbers to work at essentially 100% financing.

Hey mate,Thick skin is needed on this forum and in business in general 🤷‍♂️I just posted something similar on another thread and the best advice I can give is spending enough time finding the right people on the ground before looking at the prospect of a market or a deal.Especially when doing BRRR out of state which is a very tough gig IMO.You can find the best market, with the best growth potential, find the best deal with the best cashflow but if your realtor isn't genuine, your property manager is incompetent and your contractor is a cheat.You will loose money.Also, underestimate your income and overestimate your expenses on every deal and business opportunity.If you think it won't happen to you, I can tell you right now that it unfortunately will...I've completed hundreds of flips and rarely come in at budget from a rehab standpoint.So keep that in mind.Appraisers are a joke and easily manipulated.They follow weird data and many want to cap you intentionally (No idea why...) on the ARV.They play it safe and can see how much you paid and what you spent on rehab so they will cap the value and come in under fair value on many appraisals.I stopped dealing with selling to investors looking to finance many moons ago as it wasn't efficient from a business perspective and I'm not in the business of using "in-house" lenders and manipulating appraisals like many others do. 

@James Daley  You'll need some 'skin in the game' on a deal like this. 

For them, these properties are still cheap by international standards hence the real estate market si still booming in spite of all the economic difficulties and uncertainties and there's likely a long trajectory upward ahead for prices.

If you get a no on any of these questions, you are probably not dealing with a true turn key... and they will not have enough skin in the game to do a good job for you. 

If you're looking for STRs on the beach, you'll have difficulty finding something that cash flows unless you can get optimal occupancy. 

That local partner can then become our eyes and ears who has skin in the game with us.