If they want to give you a lower rate for less skin in the game... great, take it and don't ask questions. 

"Sooooooo I need you to call them and then fill out their forms and then I want you to setup calls at good times of day, and they may not answer, but I want you to keep calling until they do and then I want you to get together some records for them and I want you to fax a copy to one of their people and they don;t use email so I need you to go to a notary and fill out a form you can get from a small shop 45 minutes away and then make a copy out of geniune Elks blood and paper made from the skin of the an elusive Yackani fish"....

People that have no money, no experience, and want to suck away valuable time is a non-starter.You have to give something of value such as performing free tasks, going to work for an investment company from the ground up, pay for training,etc.People that are wanting freebies and have no skin in the game tend to do nothing when a bunch of work is involved.

Hard Money is going to want you to have some skin in the game, so you'll have a hard time finding someone who is going to give you 100% financing for the purchase.

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

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

I have the capital to provide some skin in the game, but am leery and a little apprehensive about using hard money for the first time for my first solo flip. 

I'm sure there are lenders in your area that would work out a deal like this if you build a relationship with them - and you HAVE to have sufficient cash reserves to make the lender more comfortable with you essentially having no skin in the game

As well, they are putting their own skin in the game by putting in 20% of the equity for each deal.The investment would look like this on a hypothetical project of $1,000,000Investment:Mtg (70% LTV): $ 700,000Managing Partners: $ 60,000 (20% of the Equity Needed)Equity Partners: $ 240,000 (Balance of Equity Needed)Ownership:Managing Partners: 85%Equity Partners: 15%In addition, the Equity Partners would be paid a preferred 8%.Based on their projections (and lets assume they are right), the Equity Partners would end up with ~20% ROI / Y + 15% of net proceeds on exit.So ‘work’ free 20%/Y + longer-term capital gains; what’s wrong with that??

No skin off their back either way right?