But I need some skin in the game as they call it.

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.

and you can find an almost unlimited variation on risk ( from low to high leverage, both floating and fixed rate debt, from no to high skin in the game, etc).

However, I don't have any skin in the game for mountain vacation rentals.

They want an investor to have some serious skin in the game.The other option would be to wholesale this opportunity to somoene and make a few bucks to save so you have some money for a downpayment in the future.

@David Lao Understand for sure. 1031 is just one way to skin the recapture cat so to speak.

They have more skin in the game then you do.Make sure you get clear title.

Could certainly be a good strategy and plan but generally should be conservative and have "skin in the game" especially when starting out. 

Nicholas, There are a lot of ways to skin a cat, the important thing is you take action.

The other options you are playing with fire as using a HELOC that is paying interest is essentially buying with 100% financing.Having no skin in the game has always been a high risk strategy and people were able to get away with it the past few years due to the money supply and inflation but I would not use that as the measuring stick.