(And there's fear of retaliation in reality.)STR management is not for the thin-skinned.

Fix it fast: lead with a crisp one‑pager showing deal, numbers, security, and payback; put some of your own skin in; state risks and how you mitigate; then give consistent updates.

100%, "no skin in the game"? 

In other words 80% conventional loans, as ALMOST all loans, require the borrower to have skin in the game. 

The company's leadership must have "skin in the game."

Sometimes you just have to think, would I trust someone with $500k with no skin in the game or history to show that they will repay me? 

@Erik Roth - Your point on a lender justifiably wanting the borrower to have decent credit and some skin-in-the-game is valid - and nothing in my comment suggested otherwise.

Commercial require you to have at least 20% skin in the game correct?

Bottom line is I'm a bit wary of getting into this again and would really need to be sure that the first lien positions were solid, the borrower had enough skin in the game and the property was in an area where resale or rental would not be problematic in the event I had to foreclose. 

It can be "little" down or "someone else's money down" but don't make the mistake of thinking you don't have to have some skin in the game.