Some lenders want you to have skin in the game, and some lenders are okay with a full seller carry for the down payment.2.

Developers usually acquire the land with their own cash, own it free and clear as their skin in the game.

You need some thick skin to deal with lots of defensiveness, pushback and rejection. 

Typically when you do this, you put duct tape along the edges of the cut on both sides that you're plunging into with the grinder -- cutting stone with a dry blade (like the diamond turbo)  tends to greatly increase the amount of wear and chipping you get on surface and edges.Doing a cutout for an undermount sink requires some specialized tools that you mount on a variable-speed wet stone polisher -- Makita makes the industry standard.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

I'm barely scratching the surface of what Property Radar can do.

Looks like you find a good deal on the surface at least.  

In this business and on forums such as this you need to have thick skin and confidence in your own skill sets.  

On the surface this looks like a bad deal (and maybe it is), but how do investors look at it from a buy and hold perspective?

They want your "skin in the game".The companies that used to provide 100% financing with no buyer downpayment - they all went out of business during the 2008 crash!