Gift Equity insights

[Anthony Greco]

Hey everyone, my aunt is selling me for house for me to turn into a rental property. A mentor suggested her gifting equity to me instead of just selling it for a lower price. This way I’ll immediately have equity as well as a lower down payment. From what I’ve read, if it’s under $15,000 nothing needs to be filed on taxes or anything. Has anyone done this before and have further insight? Is there any cons for the seller? Anything helps!

Thanks!