There's different ways to skin a cat, no wrong answer.

@Thanarat Phuvapaisalkij so hard money lenders want skin in the game.

What they call skin in the game.

As has been mentioned in many podcast here, there are a million ways to skin a cat.  

Brandon Burrell unfortunately most lenders are going to want some skin in the game!

Hard money generally doesn't go to 100% - 75% is a "normal" max but a lot will not go higher then smaller numbers like 70 or 60.So you will have to put $$ in - HML will want you to have skin in the game.You need to find something that leaves you $$ left over for rehab.Also - remember your buying that 100K property (ARV) for 70K or 50K or whatever and that is the amount your financing.or if you say homes (even rough ones) go for 100K - well - are they worth more after reahb - if they are worth 150K that is what the HML will loan on.So in that case you can get a 70% LTV from a HML - kick in 5-10K (with closing costs) and then spend the rest on the rehab and holding.Some HML will let you in with no skin on your second + deal as well so it does get easier the more you perform.

many (most) times, the lender will not consider a loan modification until you have defaulted. so if you default, your credit will be damaged.lenders want to make sure you have skin in the game. you signed a contract for the terms listed and if you want out of the original contract, you need to pay a premium.

I suppose if it's the latter the work would be in identifying those partners without a lot of skin in the game or experience. 

With a full structure rehab you are talking a lot of time and possible code and permit issues versus a skin job.

Most private investors want you to have some skin in the game.4.