He said there is no way to make it work with less than 10% 'skin in the game'. 

As an investor you want as little skin in the game on deals if you are looking to grow rapidly.

Since lenders are looking for security, they want the borrower to have skin in the game.

Call me when you have nothing else to do and we can talk about making money, writing contracts, Control & Roll, delayed settlements, hybrid offers, skinning offers, commercial purchase, assignments, auctions, my kids, my grand kids, my house on Amelia Island Florida, my pet gold fish - your kids and your financial goals --- Ha - should be a long time on the phone with all those subjects.Cheers ------ Charles

The problem I'm having is that a lot of Lender's want what they call "Skin in the game".

      There are plenty of hard money guys that would lend on a well thought out and documented project, to an investor with experience and enough skin in the game.  

I'm glad I'm thick skinned when it comes to callers. :)Now y'all go on and have a nice evening!

If they allowed for the appraised value it usually means that the lender holds more/all of the risk since the borrowers equity is stripped out either in part or completely which leaves the borrower them with little or no risk or 'skin in the game'.

But there are good, professional realtors out there, you just need to ask around until you get a positively glowing referral. 

Sometimes that skin in the game will count as a major incentive to accept.