your own personal experience is important. if you don't have skin in the investment, you should at least have skin in the business.

Until you have a track record borrowing from HMLs you'll likely need to invest some some of your own money in the deal to have some skin in the game.

Some will insist you have some skin in the game for fear of you walking away from a deal gone bad.

Kitchen cabinets seems like they are in good condition, but flat, and currently stained that typical brown color.

There are a ton of hard money lenders in SoCal that may be willing to look at your deal and tell you if they would lend on it and under what terms ... most will want to see some skin in the game from you in terms of down payment and/or funding repair costs. 

Their view is you have no equity or skin in the game if the asset stops performing and you're more likely to walk away and hand them the keys. 

See #2What you are trying to do is basically avoiding any of your own skin in the game.  

Good Morning All,I'm taking a shot in the dark with this one to see what happens.  

The lender on the appraisal has a current tenant occupied value and a dark value if the tenant doesn't pick up the option 7 years from now.

I was thinking possibly 40-50k, but that's really kind of a shot in the dark.