So much knowledge to soak up...I'm just getting started and have very little skin in the game.

I'm in the SF Bay Area and my predominate factor is [the amount of time I estimate for rehab (I'm a contractor) and the closing time and the average DOM (days on market) before I expect to receive an acceptable offer] vs [the amount I can potentially make.]For example, it may not be 30% margin (less 10% holding costs) but if I can make a hypothetical 50k on a 6 month flip on a deal where I have 150-200k of skin in the deal, I will deem that as acceptable--granted I factor in a healthy cushion for additional holding time and additional rehab cost.

I will have skin in the game, just not very much maybe 25k or so. 

(distressed)5.What are some characteristics to look for in a great deal- ARV and rehab cost6.What should you be on the look out for when going door to door or driving for leads- Have thick skin when you get rejected 20 times in a row.

I have one really good friend is really ugly, teeth problems, a bad skin condition, his hair is even worse than mine, and he actually dresses so bad you want to scrape stuff off of them.

Not so much noticed in good times with small  % of overall, but at the ready if dark days return.I like how the auction folks force the buyers to perform with skin in and no assignments.

I’m not interested in managing (I have zero interest and not even want to consider it), and I see that PM will take more than 50% of the profits with no skin in the game.

The bank won’t even let you mortgage the whole cost...you have to provide some down payment so they know you have “skin in the game”

@Darcy Reynolds - you're lucky to be wrorking in the field as a realtor, you have a big advantage and network of resources, I know you can do it.. dont wait to jump in :-)@Joe Edwards - LL at "punch you in the face" type of industry... it definitely is, and I've been punched in the face a few times, but you're right, it gives you tough skin and prepares you for success!

Note that I do not put a lot of time into due diligence until the "contract to hold" meeting, when they put some skin in the game.At the "contract to hold" meeting, I collect an amount equal to one month's rent.