Im ususally rather thick skinned on the contructive criticism.

I would immediately start leveraging $200K of the cash as skin in the game in multiple single family flips and use the remainder to fund holding costs until those flips started producing.

I get locking up the deal and having some skin in the game but 5k is ridiculous.

Without this document, you could effectively be buying the property with no skin in the game which just about any bank will catch and not allow.  

When I got started I feared putting out signs for my marketing, talking to sellers, spending money that I might not get back, worrying about people not wanting to sell me their home because of my skin color, not having the cash on hand to buy it, not pulling up to the house in a luxury car, etc, etc, etc...All these things are just inside your head.

There are so many different ways to skin the cat.

To quote one of my bankers " We want you to have skin in the game."

By keeping active you will eventually find your niche in real estate.I like the saying "there are many ways ti skin a cat" lolSame goes for making money in real estate.Also, don't get discouraged if you loose $$$.

I have tough skin, so don't take it easy on me!

You have no skin in the game so it's just too easy for you to walk away from it.