@Federico Gutierrez For me personally, The things that you mentioned that needed to be replaced or fixed are just the cost of doing business or "additional skin in the game".

@Sharon Tippett there are many ways to skin a cat as they say.  

When you ask a contractor to do things that have them spending their time without guarantee of a project, you're technically asking them to put skin in the game when you have none in the game thus far.

Yes lenders want to deal with someone who has experience, and EVERYONE wants to do business with partners who have skin in the game.

For any deals, you will need some skin in the game ... meaning at least some funds to start with.

Sounds like he just wants to get under your skin.

More investors need to get skin in the game besides just the mortgage and invoices.  

Overall I understand WF is looking to cover their skin in the game. 

I am definitely not saying all, just many that I know.2. the rate if return is low for a 2nd position 3. the way this reads, it sounds like this is essentially a loan to get you the down payment money you don't have. that will be a problem for your lender (they want you to have skin in the game) and it is likely an issue for this private lender (again, in this situation you don't have skin in the game)4. you may find someone that would cross collateralize your first property (essentially take a second on it homes) so that might be something to think about.5. and last thing, I promise:) have you thought about borrowing from a family member?

In your case, you have a decent amount of skin you can place into the game which should satisfy most lenders.Make sure you get fully educated on the process of rehab flips and how to get your acquisitions.