Plenty of ways to skin the cat.

With significant skin in the game and due diligence on my part, I don't see much risk in this.

As an another way to skin the cat.

I tend to think C class MFH are for local with tough skins....

When I compared his math to mine, we end up at almost the identical profit margins, so in essence, we use the same formulas.Lets use this as an example:Purchase of $200,000Rehab of $40,000ARV of $320,000That is 75% all-in.I have 5% agent fees and 1.5% title/escrow/transfer taxes/misc for a total Resale cost of $20,800 - Lets round to $21,000 (I ALWAYS purchase a owners title binder on acquisition to cut my title costs on escrow, if not, expect to pay 2% total.Assume 12% interest and 3 points for financing, plus $1k in fees and assume you can borrow 100% of purchase, you bring $40k rehab funds for skin in the game.

He probably wants you to have skin in the game so you don't back out of the deal. 

Buyer defaulting on a loan still in your name, your credit, you'll future ability to borrow with a Ilan in your name, legal consequences, buyer's skin in the game, etc.As a buyer in this case, your seller's credit is not at stake do neither should be concerned.Your job is to negotiate the best deal for your team, not theirs. 

And I'm developing the thick skin but I was curious if there is an average on how many it takes to get one accepted (I'm sure I know the answer but humor me please) ?

In my opinion it is the same as investors looking for a buyers "skin in the game".

Just as many people have said in this post, there are many great ways to skin this cat.