This was the same math done when you purchased the triplex, if you purchased it as an owner occ and used the rental income to help qualify.3) If you want a rational reason why non-owner occ math is more generous than owner occ, consider that non owner occupants have to put big fat down payments down, and have more skin in the game generally. 4) Rental income (anything about it) is frequently overlayed. 

Or would it be better to show my "skin in the game?"

That's time, skills, savvy, and the rhino-skin. 

just need to be careful in picking the borrower... but that those levels the borrower will have 1 to 2 million in cash skin in the game.. so you do mitigate the risk.

Should he be getting more since I have no skin in the game? 

What value do they bring aside from perhaps finding the deal and having some skin in the game also?

They need to have some skin in the game if they expect you to take on some risk. 

In essence, prepare your private equity partner to bring more skin in the game if necessary to do these deals.

--- And then, how can I minimize my risk 2nd position is a start can I minimize even further by requesting that In only fund 75-80% of each and that the builder fund the remaining 20-25% so that he has skin in the game?

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.