Being gifted a dp for property, Might buy in Philly..

[Lili C.]

Hello, this is my first post and I'm reaching out to the community in hope for more information while I plan out my first purchase.

As a blessing and a gift, my in-laws have offered us a down payment for a home.

While they have more than enough money for a hard cash payment, they are very conservative and do not want to be a part from their money for too long.

That being said, my mother in-law shared with me that if I could show her /prove to how simple real estate ideas could bring in great cash-flow then she would be interested in investing more later this year. ( she is completely new to this and does not have any information, but is clearly interested)

After our previous broker pulled our credit and realized that we hadn't been working full time for the past 2 years, he recommended that the best thing we could do is to purchase the home through her parents and to have them take the loan out in their name as an investment property while putting our name on the deed for the home.

 I want to make the best decision right now for longevity, so that in the future our family can be in a stronger position via real estate. 

At this time I think a buy and hold in a place like Philly would be the smartest option overall, but I can't help but wonder if paying 100K hard cash and then getting the mortgage during the first 6 months after the purchase would be the smartest way to go here.

Even though we might only get an okish rate from the bank, I figure we would still be winning on multiple points, like establishing our own mortgage history as well as building equity as first time buyers.

Any feedback on this subject is appreciated, Thank you. 

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Also, here's another question: Are we still able to utilize the bank mortgage within the first 6 months option if we buy the property through an llc?