Definitely agree that there can be a super healthy relationship between Realtor & property managers, especially when they each specialize only in their area of expertise...

In your transactions, the broker has “skin in the game” to be able to get some of that profit.

I've seen some well-known syndicators brag about having "skin in the game" when the truth is they invest $100,000 in $25 million deal but take home $250,000 or more in fees.

Generally lenders want some skin in the game especially if you are new.

lenders really, really, really, need the borrower to have "skin in the game".100% financing, something goes sideways, and borrower just walks away...

Charlotte has been a solid growth market over the past decade with strong job creation, in-migration, and a healthy rental demand, but because of that demand, prices have gone up quite a bit and a lot of investors are finding it tougher to consistently hit the 1% rule there.

Every lender has slightly different requirements, but here are some of the common criteria we look for:Property Ownership / Purchase Agreement – You’ll need to show either a purchase contract or proof of current ownership if it’s a refinance.Exit Strategy – Whether it’s a flip, refinance into long-term financing, or a sale, the lender wants to understand how the loan will be paid off.Credit Profile – While perfect credit isn’t required, most lenders will still check for recent bankruptcies, foreclosures, or major delinquencies.Down Payment / Skin in the Game – Typically expect 20% down on a purchase. 

On a Ground-up loan, lenders generally want to see more skin in the game.

Protecting your time and your deal is key, so I’d either enforce and re-list or only extend with meaningful skin in the game from the buyer.

I would guess you are forgoing pretty good appreciation on your duplex for cash flow, and therefore you need to make a pretty healthy spread on cash flow to overcome, what I assume will be, a much, much lower appreciation on midwest/southern housing.