I have the capital to provide some skin in the game, but am leery and a little apprehensive about using hard money for the first time for my first solo flip. 

I'm sure there are lenders in your area that would work out a deal like this if you build a relationship with them - and you HAVE to have sufficient cash reserves to make the lender more comfortable with you essentially having no skin in the game

As well, they are putting their own skin in the game by putting in 20% of the equity for each deal.The investment would look like this on a hypothetical project of $1,000,000Investment:Mtg (70% LTV): $ 700,000Managing Partners: $ 60,000 (20% of the Equity Needed)Equity Partners: $ 240,000 (Balance of Equity Needed)Ownership:Managing Partners: 85%Equity Partners: 15%In addition, the Equity Partners would be paid a preferred 8%.Based on their projections (and lets assume they are right), the Equity Partners would end up with ~20% ROI / Y + 15% of net proceeds on exit.So ‘work’ free 20%/Y + longer-term capital gains; what’s wrong with that??

No skin off their back either way right?

Most want skin in the game.  

My "skin in the game" is client service.

You will need to find out what buying criteria these buyers have, so that you can be profitable.5) Develope a tough skin, because we all face some no's and yes's.

So it ends up being a total waste of time.There has to be "skin in the game" on your behalf.

If so, perhaps the seller would be willing to put some skin in the game in exchange for a waiver.

I really can't think of a way that you could purchase this property w/o some skin in the game.