Over-leverage aka not having (enough) skin in the game is really the root of so much of the problems when the bubble bursts.

And yes there seems to be some tainted areas in you plan, as to funding with your "credit partner" what ever that is....a lender is making a loan to someone else with the understanding that they are putting money down....what the lender doesn't know is that it's being kicked back so that the borrower has no skin in the game and his closing costs are being paid for outside of closing....starts smelling at that point.Why don't you just have an LLC, put others in the LLC in a passive investment and all the members just buy properties and you manage the LLC?

If the deal doesn’t close then I don’t get paid cut and dry.

So these need to be dried, treated, and sealed if present.

Being in RE is almost as bad as being in politics, so you need thick skin at times and it's not personal....And yes, you are right.....often my fingers fly faster than my snapse fires but I'll try to spell tenant correctly...LOL

Anyway, here are the facts...Condo is vacant (and it is unfurnished).Was never occupied by me or my partner (altho I could say it was and who would know otherwise).Will either be sold or rented.Title is in a Calif S Corp (Dry Mountain Inc.)This is my money partner's entity that he set up earlier this year.Anything else need to know on this subject?

I have thick skin and can take whatever you would like to dish out, but others may not be interested in hearing about it.

It also serves as "skin in the game" so that I know I'm dealing with someone who is serious and has the drive to succeed.And I also do deal splitting (which let's me keep the upfront cost down)....with leads that arise from the campaign we're both working.

What is nearby (especially filling stations and dry cleaners)?

The seller can pay for all loan costs, on a commercial loan as seller consessions, but when speaking of the down payment, ir reality, no, the lender wants to see skin in the game.