Once you are in the game, you’ll know what things cost, what to look for, etc. if the market is hot, there’s no time for 3 days of due diligence.

My wife and I have been wanting to get some skin in the game in regards to purchasing our first fixer upper.

@Jesse Park I’m new to the game, but from everything I’ve been reading, it sounds like you could use the 20% to do a BRRRR (without doing the rehab step).

The borrower and the security (the asset and docs associated with it).As a lender, you want to ensure the borrower has a performance history, can show skin in the game (some of their own capital placed into the investment), and has experience in performing on the particular investment.For the asset, you need to make sure your a LTV (loan to value) does not exceed a set amount you choose to give you “cushion” in the event the deal goes sideways and you need to take the property back.Your loan docs are also important and should include all the things you need to protect your investment such as a deed of trust (or mortgage in mortgage states), promissory note, balloon rider if the loan is not a fully amortized loan, personal guarantee rider (which is only worth something if the borrower has personal assets to go after), etc.For the asset itself, you need to know the strategy (buy and hold or fix and flip) verify the condition and amount of repairs, know the current market value and future market value after repairs, and have a plan in the event you need to take the asset to recoup your investment.

Financial advisors (the fiduciary, holistic ones at least, work well on advising across asset classes and longer term financial planning.If you're clear on your investment game plan, a solid CPA, like other commentors have mentioned, works well.

If you are playing the long game, BRRRR can be a great cash flowing vehicle.

They want someone to have "skin in the game" in order to give them the money to buy a property that they are not planning to live in. 

Hey guys, new to the game here! 

What got me interested after the trip was coming across a few articles on how KC has attracted new companies there recently and how it's one of the more innovative/forward-thinking cities in the country.

Real estate is usually a slow game that takes time.