It's usually some unusual circumstance.For example, you may find an individual private lender who is willing to lend 70%-80% of the purchase price, and then the seller finances the remaining portion.Generally speaking, HMLs will want you to have skin in the game, and from what I've seen, many like to be the "1st and only" lien on the property, meaning that something like seller financing wouldn't be allowed.If you have an individual private lender in the 1st position, they may not have that stipulation.There are some HMLs that advertise "100% LTC products" subject to LTARV limitations, but generally even in these cases, you will probably be responsible for floating the initial construction draw throughout the renovation period.

So I require skin in the game (average is 5% to 15%) to offset this.

Note that I do not put a lot of time into due diligence until the "contract to hold" meeting, when they put some skin in the game.At the "contract to hold" meeting, I collect an amount equal to one month's rent. 

If you don't have experience very few lenders will give you an ARV loan with no skin in the game.

We buy higher income homes where the tenants have skin in the game to perform.

There are also good reasons why having "skin in the game" (putting capital at risk) is required by most people that would advise a seller in a transaction.I don't believe "wholesaling" in any of its forms is unethical.

You need to have skin in the game otherwise an investor or bank will not work with you.

The flip side of this is that many investors do not do their diligence at $5K so I kind of feel the low minimum leads to more speculation but I could be wrong.  3) From what I can gather many people have done ok with the investments.The key like any investment is to do your diligence on the structure of the investment, on the property, on the sponsor, on the fees, on the sponsor's skin in the game, on the fees paid to the portal and on the area you are investing in.

You have to have a thick skin out there.  

To have skin in the game, how much percentage of the profit I make should I give him/her?