There are more than one way to skin a cat

Knowing that not all cash buyers will be able to buy the property youre selling much less even be able to look at it, I believe a healthy cash buyers list is a minimum of 150 people.

This will ensure that he has some “skin” in the game.

It's just easier to buy when the real estate market is down and easier to sell when the real estate market is hot.Buy conservatively so you can hold the property for as long as you can (buy a property so that its cashflow is healthy).

Look for an IRR above 15% and a timeline of about 6 years and you'll see a very healthy return on your capital. 

I understand though if the money wants YOU personally to have 10% of skin in the game.. that's pretty common.   

I moved to Phoenix,AZ (Tempe actually) from California just over a year ago for the engineering job of my dreams, deciding to rent an apt until I get familiar enough with the market to consider buying.Since then I’ve been working on reading and learning as much as possible while building a healthy savings and found myself most interested in a Multifamily duplex where I can rent one unit and live in the other.

@Jason D, right I figured the HML would want you to have some skin in the game.

I still wrote a healthy check to the IRS, but it would have been tons worse if I did all in the same calendar year.Do you plan on doing a 1031x? 

It is best to establish something like this when you are young and healthy.