Want to begin landlording... can parents buy house?

[Patrick Hepner]

Greetings, first post here!

Let me be clear that I have no properties currently and am still in the learning stage of real estate investing.

Having said that, I have a question:

My mother has offered to our (wife and I) first property. She isn't even worried about getting money back (she's looking at it as a forward on inheritance). So if she buys it, how does it become ours? I understand she could purchase it without a loan, but then does she transfer it to me? Certainly there are some tax implications in doing that that might just outweigh getting the loan myself. That said, could she just sell it to me then at an interest free rate? (I know that if she sells it for a dollar I pay big taxes for the gains) Any help is appreciated but please provide details.