I'm pre-qualled for a conventional loan with 20% down, so I have some skin in the game.

Most lenders like to see you have some "skin in the game" , so may need a down payment and some closing costs at the very least - however , there are still opportunities to wholesale or bird dog which does not require down payment money but may be a lot more difficult without a marketing budget.

Another option is to buy a single family in a B neighborhood in the low threes and try to get $1600 to 2k for it - not super great but gets you in the game at a relatively low price point.

They have been given a chance to move in and hopefully own a very upgraded home will all upgrades that they could never right now afford, and they are too lazy to: recycle dead batteries ( it's hard to drop off at most car supply stores, Sears, etc), do not live up to agreements with any company ( landlord, DirectV, Dish TV, etc), Always switch jobs ( I approve the lease based on their incomes, and they wait until moved in and then change - as if they know how the landlord "game" is played), etc.

I clearly need to work on my realtor game.

Anyone in the game now and want to share experience? 

Good group:https://www.appletonreia.com/I've also heard good things about the Green Bay REIA but I haven't personally been up to that one:https://www.greenbayreia.com/However if anyone is interested in a BP meetup separate from the REIA meetings I'd be game for that.  

This is a unique situation where we want to offer Person 2 30% of non-voting stocks, but the end game is Person 2 gets to have 50% of net profit for providing financial backup up to 500k in the form of supplier debt or cash on projects that we present Person 2.

My guess is you can probably get 2-5 more points easily and that in itself will be a game changer but it will take some time.2.

Guessing how someone is going to react to a counter (especially without knowing the market or what the property is truly worth) is a fruitless game.