$22.5k is very manageable.3) If you trust him and he has as much skin in the game as you, then explore it further.

Both GSE's want to see skin in the game- and likely on the portfolio side they wouldn't let you take a second as down payment.

Just like how Hard Money lenders ask you to put "skin in the game", because IT WORKS.

I have a Realtor Friend and he said that if the police see a black man driving a Ferrari through Beverly Hills, they have every right to stop him and question why he is there, just because of his skin color.

Take a step back and re-read the comments here.Re-skinning the exterior part of the house isn't that expensive and man what a difference it can make.People generally buy the outside of the house ( appearance) to brag to friends and family and the inside for themselves to live in.

Although, our team prefers this arrangement with the right Interior Designer, so that they would have skin in the game and be committed to the deal from beginning to end. (4) On flips where you use an interior designer? 

But thin skinned contractors are a stereotype. 

Everyone should have skin in the game.

It's usually some unusual circumstance.For example, you may find an individual private lender who is willing to lend 70%-80% of the purchase price, and then the seller finances the remaining portion.Generally speaking, HMLs will want you to have skin in the game, and from what I've seen, many like to be the "1st and only" lien on the property, meaning that something like seller financing wouldn't be allowed.If you have an individual private lender in the 1st position, they may not have that stipulation.There are some HMLs that advertise "100% LTC products" subject to LTARV limitations, but generally even in these cases, you will probably be responsible for floating the initial construction draw throughout the renovation period.

So I require skin in the game (average is 5% to 15%) to offset this.