Quote from @Tom Gimer: @Jay HinrichsIf a law is passed that has the effect of reforming existing contracts, there is a fairly detailed analysis/framework for determining whether it would be constitutional under the contracts clause.

Gotta have some skin in the game. 

But what you will find is that most repairs are pretty easy - and if we don't want to mess with it we will call someone ourselves... but someone we know is going to shoot us a fair deal.

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.

You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.

People don't know the difference between whatever the heck he's doing and an actual investment company with skin the game.

Cities don't play fair when they decide to go after you.One thing I would also suggest you do is look on AirBnB for the specific building you want to buy in. 

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

Thats fair, we are not doing any of the actual work, so it makes sense to not receive  a lions share of the reward. 

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.