He has no skin in the game. 

So I require skin in the game (average is 5% to 15%) to offset this.

Having skin in the game is better than having no skin in the game.

The day he was supposed to begin the project, he tells me he can only do concrete, because the city doesn't allow gravel, that if since I didn't previously have gravel I have to put down a solid surface like asphalt or concrete.

But my favorite sponsors aren't from here.I'm a conservative investor, so when I invest in multi-family I prefer sponsors that have at least one full real-estate cycle of experience, little to no money lost, low leverage, and high skin in the game.And there is a multi-family operator that has multiple real estate cycles of experience (decades) and it's track record claims no money lost in that time.

I have been having problems getting kicked off the system after writing a response so I just put one sentance up to test it .. still weird but worked.1. back ground check  no one with bad history.2. meet in person 99% of the time3. fly to the market review the projects they have done and are contimplating.4. some skin to start then we do true JV deals IE our money their work.

I’d use solid-surface or entry-level quartz in the kitchen and a prefab vanity top in the bath—both resist stains, heat, and tenant wear better than laminate without jumping to luxury.

But it’s a reminder that “buying at the top” with minimal skin in the game can hurt when the market shifts, even slightly.Early signs of trouble or short-term noise in specific metros?

It will amost certainly turn horizontally and run the perimeter of the footing,   and if the home is on a slope there may be a surface or subsurface (pipe ending in a dry well of some sort) exit drain from it,   search the lowest part of the lot edge.   

I'm having trouble finding a lender who will do this.Thanks much in advance... non bank lenders who are doing DSCR do not allow 2nds on the back end. they want skin in the game