82/105 = .780980% ltv should get you a loan, but lenders want skin in the game, like 20% down.Private lender should give you 80% ltv w out down pmt, I train in PLer marketing.

Re-appraised 6 months after each purchase / rehab should have you at 30%+ new equity based on your clever buying and value-adding, meaning you will qualify for 100% funding for the next one, then the next...Good luck to YOU if you aren't asked to provide any skin in the game!

Can you please help analyze this deal and what type of skin in the game i would need.House is in the heart of silicon valley.

But you don't get all this money up front because they want you to have skin in the game.

Also, I would want them to have some skin in the game, so instead of just paying them a flat fee (say 7 - 10% of gross rent), I would prefer to pay a smaller flat fee, but give them a bonus if the property each year generates a profit above a certain threshold (say give them 30% of profits above a 5% cap rate).As someone who doesn't know as much (yet), I feel like this kind of partnering makes sense to align my property managers incentives with my own.

Years later, they have multiple rental properties and used the VA loans in a very healthy way.  

The less skin you have in the game, the more expensive the money is going to be. 

We have trimmed the tree in a healthy manor to mitigate the major concerns.

@Wayne Brooks  reading between the lines this could be a classic case of the buyer not understanding the difference between EM deposit and the down payment.Its very conceivable that the broker is conveying to the buyer that the seller wants 40% ( down payment) not EM deposit and the buyer is confusing the two.. this would be extremely common place in a seller carry back transaction... seller wants to know there is significant skin in the game etc. 

Both markets should have a healthy mix of entry points.If you're looking westward I'd be happy to talk shop and offer advice, so don't hesitate to reach out.Cheers!