In the past there were more options to get creative with seller financing etc to put down less than that, but now the primary lender in general won't allow this as they want to assure you have sufficient skin in the game.

On the surface it sounds like a good idea with little risk.But my grandfather invested in Honduras for a rental/vacation spot several years ago. 

You just need skin in the game

If I don't a particular agent because of skin color, sexual orientation, or whatever, I may decide to offer them less. 

You need to be able to turn a profit, the property typically has to be in an urban or suburban setting, you need skin in the game (down payment) & in most cases decent credit.

Paying that much interest makes my skin crawl ha...

They are being sneaky using the waterproof tag, it's the surface that i waterproof, not the installed product.

It may have been possible years ago, but not anymore--lenders want to make sure that you have skin in the game and that you won't just walk away from the property if things get tough.

The reason for this is to prevent people from getting a good deal, immediately refinancing, pulling all of their cash out, and having no "skin in the game".

., but let's take this on the surface.