Main line banks have underwriting standards that they expect you to have skin in the game when it comes to each investment deal.

So, how do we structure such a deal to ensure buyers have some skin in the game?  

Plus you'll have a little skin in the game at this point (appraisal fee).  

How could I have done better to finance this with as little skin in the game at the very beginning to be able to employ my capital somewhere else for the next deal immediately to grow my portfolio?

This is the plan my business partner is considering because getting into his first property he wants to have as little skin in the game as possible and potentially OK with that and owning the house in 5-6 years.  

In addition, some sponsors would rather take equity than an hourly management project fee to keep skin in the game for the sponsor or the upside is higher for the sponsor, some sponsors want to take fees during the project to get paid and some are only fee based and have very little equity in the deal.

I know there is something about them being known to you instead of soliciting random strangers.If you meant to say $1 million, you're going to have a MUCH easier time finding loans, but if you have no skin in the game or no experience or both, that's also going to be a difficult sell.

Point is, if you have no projects, reduce your finance cost as much as possible. if you have more deals you could be doing that are profitable, hoard your cash for the 15-25% equity skin in the game required by hard and private money so you can maximize the amount of real estate you can control.

Cash is king and if you leverage your future buys with good financing you will get the best results when you can put some skin in the game.

I will require my JV partner to have SKIN IN THE GAME - or their own money on the line.