The process is as simple as it sounds but not easy to put together.Your first deal may be the hardest deal but what that first deal will show you is that this is a real opportunity and for many folks it can change their financial situation forever.There are not many business you can start and be profitable on your very first transaction.JUST MY 2 CENTS BUT THERE'S MORE THAN ONE WAY TO SKIN A MEE-YOW

You are basically offering your friend the opportunity to buy a house, which you will then use to secure rehab financing.So if I am reading that right, he has a whole lot more skin in the game than you do.You also don't mention what your experience level is.

They want you to have "skin in the game".

I don't invest in "rough neighborhoods" nor do I recommend others do unless they have a very thick skin.

That is a great downpayment, and they have a lot of skin in the game.

Or is it completely personal as to what makes the difference between "I got my moneys worth." and "I barely pulled out by the skin of my teeth."?

It also gave me a good idea of ALL of the charges.I would like to find one that has a little skin in the game, to find and retain a quality tenant who takes care of the place and pays on time.

It isn't good business to lend to inexperienced rehabbers w/o some substantial skin in the game and a significant equity position for the lender to fall back on if things go sour.

If you keep working, you CAN and WILL make it.Thick skin usually comes from scar tissue.

I like Joan's comment of "show me the written offer", perhaps I'm being unreasonable, my skin is pretty thick so any candid responses are welcome.