Yes - you should build capital, you can beat a cash offer with a hard money lender that doesn't require appraisals, but you will absolutely have to have skin in the game, especially as a beginner.

So, being that kind of guy, I would just go to a time earlier than it actually happened and say "Hey, look at that glowing red thing, isn't it pretty" so that I could learn sooner.

I would rather lend to someone with 600 credit and 30% skin in the game than someone with 800 credit and no skin. 

My first pass is as follows.Minimums:Commit to meeting monthly for 12 months then recap where we started and where we are now (was it beneficial)Goals would be individual but should start with a desire to add at least one property in the next 12 months, so looking for mid tear folks (no tire kickers but don't need to be living the dream just yet.)Currently have at least one property need some skin in the game as this is to keep us progressing not helping someone to start.Format: 2-3 hour commitmentEach month we would meet at a property/someone's house or restaurant and get say 5-10 min per person to go over where you’re at and what you need help with.

@John Burns, I recently made the transition from investing in individual commercial properties (restaurants, retail, offices) and am now a syndicator.Cash is always a good thing to have, because it shows your investors that you're willing to invest and have skin in the game. 

Would appreciate recommendations on what I should offer during or after my visit to view the place.5BR/2.5BAAsking- $124,500ARV- 120-180kRepairs 20k- Kitchen and Bathroom cosmetics, roof, replace some stolen copper (These are subject to my inspection and contractor estimates)Rent-1600-1800Cashflow- $170-270/ month depending on rentCash on cash return- 10-15%actual annual expenses- $3400 (tax, water/sewer/repair/insurance/license)It's in a less desireable part of prince georges (capitol Heights) and definitely more prone to crime and lower income neighborhoods.Seller Financing Terms Offered by Seller:124500 asking/25k down/ 100k loan @ 10 year term/ interest free/want $1000/month paymentOffer I'm Considering offering:60k Cash offer (just low cash offer in case they want the quick cash)OR100000 seller financed/ 20k repair fund in escrow/ interest free for 10 year term/ first payment delayed by 2 months to perform renovation and place tenants(i'll ask;) )---------------I'm not sure why they need the 25k yet, but will instead offer to put the 20k in escrow that will be used for repairs in lieu of down payment and show I have skin in the game.The seller financing asking price is still somewhat high relative to value, but at a 10 year interest free loan, I'd be earning a little cashflow for 10 years, then at the 10 year mark, monthly cashflow will be 1000.

If you have Time, there are many ways to Skin the Cat.

There are multiple ways to skin the cat, but house hacking can truly be as easy as finding a home that needs light work, spending the year getting it rent ready, and then moving on to home #2 once you are ready to list the home for rent and you have saved up for the next down payment.

I believe in EMD, as it makes you have skin in the deal and you will ensure you are putting a good product out there or are prepared to close on the property yourself if you can’t find an investor willing to purchase your contract.

Lots of ways to skin this.