Private and hard money lenders also want to see that you have "skin in the game."

Since I had been a landlord for years and owned multiple properties and had the net worth, I was easily approved, but I can see it being more difficult for beginners.For this reason I suggest starting the same way I started, with 2-4 unit small multi family properties.

I’ve made a couple posts here and I got some amazing advices and now that I have a full time IT job at a data center my next question is should I just save up and then do a flip or should I try to get into a seller finance multiple family property.Then rent out the units and maybe even rent out the rooms in the unit I stay in and from then I would have money saving up while buying for a property I will own in the long run and also could do flips after a year or 2?

I have been on the sidelines and need to get some skin in the game.

How much skin in the game will we need for being first timers.

@Avi Garg we are selling the house for multiple reasons, mainly being to pay off our debt and also move to another nearby city to be closer to family

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

@David Stuart, I'm a California real estate attorney and broker and have dealt with this issue multiple times. 

Do we need to transfer it to an account and then use it for multiple down payments on 3-5 cash flowing properties if we can find them?

There are actually multiple ways to determine depreciable basis.