Anyone been gifted a property by a family member?

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Hey BP community,

I wanted to paint a picture of the current situation I'm in and see if anyone else has been in a similar circumstance and can offer some advice.  A family member is offering to gift a property to me, its a 4plex in a good neighborhood with no current vacancies.  My only concern after speaking with my real estate attorney is the depreciation aspect (since that's one of the best aspects of real estate) and how that would work since the property would essentially be being "gifted" to me.  I haven't met with my accountant yet but I am going to pose the same question to him and see what my options are for making this transfer as beneficial as possible.  Has anyone else ever been in a situation like this and how did you deal with it?

Thanks,