Larger concern is the toxic materials are released and can be absorbed through your lungs, eyes or skin.

Your minimum statutory skin in the game is 3.5%, $6948 in this case.For the rest...Bump sales price, ask for seller credit.Bump interest rate, ask for lender credit. 

I'm betting you could stack historic credits, LIHTCs, possibly a TIF or other local financing, and either the FHA or a commercial note to get you in with little or no skin in the game.

Everyone is going to keep say "you need some skin in the game".

Note that I do not put a lot of time into due diligence until the "contract to hold" meeting, when they put some skin in the game.At the "contract to hold" meeting, I collect an amount equal to one month's rent.

Secondly, sound underwriting does require that you have "skin in the game" which is why the banks require you to use the lower of the sales price or appraisal value even if the appraisal value is higher then the sales price. 

Since I'm new to this I don't know the logistics, maybe if they got some skin in the game and helped with the cost of improvements it would dissolve some of your fears and concerns. 

With a lower COC return, you're making less money for how much 'skin' you have in.

They need skin in the game in form of a serious non refundable holding fee that you are willing to turn into security deposit at lease signing.

Under MN law you can not charge a fee for a person breaking a lease early per say, if you have a 1yr lease and they break at month 6 you can charge for the entire time it is not released and reasonable costs to release the unit given you put forth good faith efforts to release the unit.Now sure there is other ways to skin the cat, deposits and so on to cover the time period but here in MN you wont get far charging a fee thats is above and beyond covering the original lease amount, follow?