You can't do business in a state like that, particularly Real Estate where the game is rigged in favor of the tenant...who has zero 'skin in the game'.

There's a well-known phenomenon in larger balloon-framed buildings in extreme climates where the joists dry out and shrink closer to the external walls and retain more moisture and hold to their original dimensions better in the middle of the building.

Of course having some dry powder will help when opportunity arises, but ensure it's a portion of your cash and not all.

In regards to the hard money, they usually want some skin in the game and a lot of value add.

I want to but a multi but my bank account is dry.

Most syndicators still focus on transactions where the sponsor has some of “its own skin in the game,” and this means that the investor funds will also include whatever money the sponsor contributes.

Plus, I would have skin in the game which could help build credibility. 

Dry stone basement with tons of storage space and garage door walk-out.

We are hoping to to use 100% funding for project and construction ( interest payments up front is the skin in the game).

Give them skin in the game.