2 SFH remain. Rents at 1400/1500 mo.4% notes. Balance remaining 50k ea. Value 300/320k. Bought for 70/100k app 20 years ago. Refinanced, 10-12 years ago, cash out, lower rate. Payments are 900/mo mortgages total for ...

When every comp property has the same finishes, cosmetic upgrades stop commanding rent premiums.Rent growth normalization: Markets that experienced double-digit rent growth in 2021-2022 have returned to more sustainable single-digit (or flat) growth, making it harder to justify exit valuations based purely on rent increases.Buyer due diligence evolution: Institutional acquirers are increasingly asking about documented ancillary income streams during due diligence.

Learn the rules of the game, plenty online.

If it is an incredible deal that really makes sense with no skin in the game, and you still don't have the funding, maybe pitching a JV partnership with an investor would be ideal, instead of a traditional loan.

There are too many players (investors, GCs, subcontractors, lenders, etc.) in the game who are not honest or honorable.

From what I see, seasoned investors tend to rebound by simplifying the deal, building in more margin than they think they need, and not forcing anything just to get back in the game.

That’s a feature, not a problem.Your setup is more workable than you think:Your HELOC can cover the down paymentYour $20k can cover reserves and early paymentsThat puts you in the game if you buy correctlyI’d be targeting properties with ARVs around $140k–$160k.

.: BP Fam🫡, I need someone to put me up on game please, b/c I'm kinda confused on this topic.I keep seeing that to manage a property one has to have some type of real estate credentials.

Congrats on getting into the Game! 

TL;DR1) There is no basis for the claim that no skin in the game means a flipper in trouble will walk.2) For 1-4 unit properties, a lender can’t call a loan if the borrower takes on a 2nd.I have a different perspective and would like to see some data behind the claim that no skin in the game increases the likelihood that a flipper will walk away if they face a problem.