(about 200K in equity) When I bought purchased, I barley made the DTI requirements with the skin of my teeth as I only bring in about 35K a year at the time.

If you think about it, by me getting paid on the back end, I have skin in the game too.

Am ready to move into the buy and flip mode and would welcome the opportunity to get my feet wet plus would also have some skin in the game (so to speak). 

Generally, a down payment is required because lenders want you to have skin in the game.

The private money lender will still want to see your own money in the down payment, ie skin in the game. 

Some JV folks will want you to have some skin in the game, and if you don't have much will want to take title to the property, not just a 1st position mortgage. 

My experience is that you are going to have a hard time finding anyone to lend unless you have substantial skin in the game yourself and have a track record of success.

Part of their security is knowing you have skin in the game - not just equity. 

As far as all cash offers that you get from hard money lenders they also need POF to show that you can repay their high interest rates and here they ask for you to put down around 20% "to have some skin in the game."  

They are looking for you to have skin in the game and borrowed down payments tend to scare them off.