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

Just go slow and learn there are many ways to skin a cat in this game but you have to choose 1 way and get really good at it and that process takes time, things dont happen over night. 

The primary reason for this is to make sure you are putting skin the game.There are programs out there that can drastically reduce your down payment (FHA and USDA are two that come to mind), but I have no idea if you can use them for what you are looking to do.Hopefully, someone else will post who can give more insight into those programs.Best of luck though!

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.

Invest 10 to 20% "skin in the game" in our apartment syndications, raise the rest of the equity through accredited investors and have the lender pick up the remaining 80% of the stack. 

I have worked on more then 17 acquisitions to date using traditional partner of GP + LP structures and on this one I am hoping to be the only one in on the deal or have more skin in the game but am not liquid enough to get the deal done on my own. 

----------------------Proposed Structured JV Deal:- 3rd Partner to cover 90% of Purchase Price & 100% of reno cost- We would put up the remaining 10% so we have some skin in the game- We would do EVERYTHING from purchasing, design, dealing with vendors, managing reno / contractors (partner does construction mgmt), selling (I'm the agent), giving weekly updates, etc.- 25% cut of the profit would be entitled to the silent partner once house is sold. 

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

How much skin of the game the GP has in this deal ?

Essentially, the person selling you the property has longer-term accountability when they have skin in the game on the PM side of things as well.