So ofcourse im thinking to myself “if a newbie walks up and sees a good deal then why hasnt anyone else” So im wondering if there are any underlying issues below the surface

If there's a lot more wrong than what's on the surface, you can always renegotiate price or back out.  

On the surface, @RickPozos is correct.

I think getting in at class C level made me tougher, thicken my skin a bit.

The entire house smells like smoke, and there is a layer of smoke on the surface of everything in the kitchen and rooms adjacent to the kitchen.

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.

If the buyer doesn't have skin in the game then they aren't "in the game".

In general though, if you are putting in a good chunk of your own money as well to the deal (even if it's not the majority of the money down) but showing you have skin in the game, I usually see 15-20% of the profit for the general partner (person doing all the work) once the profits come in and then the rest is distributed across the ratio of shares from there. 

I knew of an older couple that listed the really expensive houses millions and up in price and they wanted the seller to spend upfront money to have skin in the game because they became more real in price over time to sell.Other times some sellers will say give me discount on my house I am selling and I will then use you to buy.

It’s a no brainer on the surface.