Typically we'll acquire the lot or scraper house with cash and then the bank will refi us out a certain percentage when we do our construction loan so that we end up with 15-20% "of costs" skin in the game.  

You will need some skin in the game. 

Back-to-back closes are most definitely done at times to hide the wholesaler's [large] profit, which might unnecessarily irritate the buyer.

It should work as long as you have three-year tax returns and have skin in the deal.Joe Gore

Most lenders require some "skin in the game" and it appears that you will not contribute any of your own money.If you can get the bank to sell it to you at such a discount, the lender may find a way of forcing you into default so they can get this property for themselves.In any case, good luck.

No one is asking you to for a to-the-inch measurement, but it gets under my skin when a wholesaler tells me that "It's only 900 sqft of hardwoods/carpet!"

There are some ways to skin that cat so everyone stays happy.

I was always interested in real estate and "read until I was dead" lol, but no one took me seriously until I put "skin in the game".

I have asked for "skin in the game" in the way of asking them to fund a % of the rehabs out of their pocket.

Let's say hard money lender might count that $25k of equity provided that you come in with at least 10% skin in the game.You come in with $12.5k.Lender lends you $112.5k based on them counting another $25k of equity in the deal.You turn around 5 seconds after closing, and rate/term refinance.