They need to make sure you have "skin" in the game as well.

It just got under my skin the way they went about it.

I believe this is the typical path for the average investor like myself while the more creative ways to construct deals are solely for the more experienced and savvy investor, depending on their comfort level with such tactics.I'm still working on the network end of things to perhaps someday JV with someone on potential opportunities to avoid lenders and banks altogether, but again, skin in the game is still needed by someone.  

This is what I am doing (I'm OOC investor so I can't get a mortgage now) and it's working great.Another option is to BRRRR- you can get a loan from hard money lender for 90% of purchase price and 100% of rehab and then you can REFI with a convesntional bank. 10% skin in the game is not that bad and you don't need a huge capital for that.Good luck!

It’s not that simple though considering if I buy a place for 20k outright and you buy a place  for 200k that required you to put 50 grand for a down payment .i could still in theory make significantly more in cashflow with much much  less skin in the game .

I am sorry if you find these facts upsetting and feel like personalizing it, that's your choice and to be honest, thin skin does not survive in RE biz. 

Does he need to spend another $200-$500 talking to an attorney who has no skin in the game?

The nonaccredited offerings are generally much more expensive, have very little skin in the game, and less experienced sponsors than the accredited.There is actually a considerable amount of deal flow out there for multi family, because it's the most popular asset class.

@Joe Villeneuve I’m sure you’ve got more skin in the game than I do, as I’m also new.

That is through your network, you wont find anyone to fund the last 10-20% of a RE deal so you dont have skin in the game unless you have a solid relationship with them.