I do not buy materials and pay labor costs for a job without the customer having some skin in the game to ensure they don't screw us.  

Sure you have skin in the game with the collateral, but you have very little money in the deal.

I'm willing to put skin in the game, I just don't know what all of the options/possibilities are (until a couple weeks ago, I did not know that hard money lenders exist). 

That way from the agent, to the quote, to the management they have skin in the game and you are working with one company through the entire process.  

Private lending may work but you still need skin in the game and the interest rates are more than conventional mortgages.

Nonetheless, they will want to see your track record (most important), how much skin in the game you have and a solid business plan. 

It would still be risky if I need to cash in quickly to put skin on a deal within a short time frame.

they have no skin in the game and nothing to lose. 

For example, if the purchase price was $200K, you'd borrow $150K from the bank and the owner would finance the remaining $50K in second position.The lenders will still want to see some sort of skin in the game. 

He knows I am looking for my first real deal and he wants to help me get off the ground.I am willing to make some concessions in order that we split the profit in some manner knowing full well that I have no skin in the game currently and the rehab would in fact be giving me work for the winter months.Currently work is slow and steady (tis the season) however I am the sole bread winner in a family of five so I need to consider the impact on my family should I be willing to give up too much.