That said, I see time and again, sellers that have no idea how to run their park, and suffer the consequences.I think it can be a great industry, but you have to have thick skin, patience, and conservative numbers.Roby

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

Most of the other companies want you to have skin in the game which I totally get.

Most HMLs want to see that you've got some skin in the game just as a bank does.

I would suggest building a strong team around you (Broker, Lender, etc.) or partnering up with an experienced investor for at least your first investment project in order to gain some experience and get some skin in the game so you are more attractive to lenders and investors.

The paying of points is my skin in the game so to speak.

For example, at 40% down, receive title to 30% of the units (leaving 10% skin in the game), etc.

----------------------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. 

He will also evaluate your track record of success (to be determined), your skin in the game (you don't want very much), and today's value of the property you're buying - not the ARV price you hope to get after doing your first rehab.

You're skin will thicken the more calls you take.Natedog