GP's typically have to put skin on the game.

It is nicer to use than a regular chlorine hot tub especially on your skin but I don't know if the maintenance is any better or worse, personally.

So I require skin in the game (average is 5% to 15%) to offset this.

The further you get into the deal the more skin in the game you end up having so it just makes sure you see the project through so you recoup the time and cash invested. 

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

Now, if they are following SEC regulations, these should be spelled out in the PPM, but they might not all be in some glowing, highlighter-green table.  

Some/many lenders don't like a 2nd mortgage behind their first (like the skin in the game), however there are both bridge or permanent financing options out there allowing you to leverage anywhere from 90% CLTV - 100% CLTV, but don't expect good terms...

I have a few lenders who do but they still require some money from the borrower so they have skin in the game.  

@Brice Alef-Torrisi, there's lots of different ways to skin this regarding entity structure and financial account structure.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.