Affordability will naturally go back down.1.  

Directions6Key BiscayneA tranquil island community with upscale amenities, Key Biscayne offers a more serene alternative to the bustling city life, attracting visitors seeking relaxation and natural beauty.

That is the "shelter" - no skin n the game, but you still get an expense.   

The property has walking access to local parks with playground as well as nature walks.

So, again, a sponsor needs to have real skin in the game, not the illusion of skin in the game. 

I have been a long term landlord but have never dealt with insurance companies or contactors (lucky me).There was a natural disaster to my rental home in Texas and the insurance company came out with the adjuster and gave me the amount they think that will cover the damage.All 3 bidding contractors said the amount is too low and if they get the contract, they will put in supplemental claim later on.

You will grow thick skin quickly.

Not just the “core 4” but actual partners who are both boots on the ground and have skin in the game. 

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

From a lender's perspective, you sound look like a very risky borrower.Hard Money is an short-term alternative to traditional bank loans and is more suited to rehabs and flips, but any lender is: 1) Going to underwrite the deal to make sure the numbers make sense, there is a clear upside, and plenty of wiggle room (and thus will expect you to come to them with a very clear picture of exactly what needs to be done, including a scope of work, detailed costs, and contingencies), and 2) Expect you to have skin in the game. 25% is pretty reasonable, actually.