While it is possible to successfully syndicate a deal without a track record, (1) it will take a lot longer (2) cost a lot more in marketing, advertising, etc (3) the profit split will have to be MUCH more favorable to the passive investor (4) you probably won’t be able to cover out of pocket acquisition costs upfront, but will have to wait until investors have been paid back in full and (5) you’ll will probably have to line up professional property management and won’t be able to manage and collect a management fee and finally (6) you’ll need a secure third party escrow agent to handle funds as investors will be reluctant to wire money directly to your company.Quite frankly, I just don’t see how someone without a verifiable track record of substantial investment success, a stable of investors willing to put up some initial investment capital, access to better than market deal flow, knowledge and experience to professionally analyze investment opportunities, and capital to invest to have skin in the game is going to be able to successfully syndicate deals of any size or quality.

“You have to have skin in the game.”

Then once he’s made a little money he can fully branch out on his own or the two of you could partner, both with skin in the game.  

I know I would need to have skin in the game.

With conventional financing, you will still have skin in the game.

It is possible but they might require some skin in the game.  

There are ways to always have control of that though.....make your income requirements higher than most would be able to qualify, require certain number of references etc. all kinds of ways to skin a cat, but you have to do it legally.I don’t think his situation applies under fair housing, but new landlords need to be cautious and under the laws that govern us

The idea of PMI does make my skin crawl.

They have more skin in the game then you do.Make sure you get clear title.

Just as many people have said in this post, there are many great ways to skin this cat.