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. 

Laser printer with colored toner?

Just a different way of skinning the REI cat.

The one thing I'm short on- this mythical 10%-30% "skin in the game" that everyone wants to see before they fund your project.In SoCal, where I'm from, houses start out in the $350K-$450K range for 3 BR entry level homes. 30% of $400K is $120,000.

Then add 9k in closing plus whatever skin you are putting in (20%= 60k).

It's a simple math.Therefore the "excellent" PMs are probably just happened to be sitting on your low-maintenance property and easy to deal with tenants until they become "bad" PM when issues arise.I am not being dismissive of all PMs, I was a PM until I quit after I was owed thousands of dollars of maintenance cost when the landlord starting delaying his reimbursement because he ran into cash issues.I'm in favor of building an incentive structure so that the PM has a skin in the game and is motivated to solve the problem.