Hello all!

I have some questions regarding joint ownership with a non-spouse family member. I will try to be as succinct as possible (while also explaining in full the situation), so here goes...

My dad is interested in diversifying his portfolio, and putting some of his money in real estate - specifically buy-and-hold. He has approached me about doing a joint venture, as I have a couple properties that I currently rent out, and has offered to fund 100% of the deal if I would be the one in charge of all aspects of the property (finding the property, running the numbers, hiring a property manager, paying the taxes & insurance, and so on). He also wants to put both of our names on the title and deed as co-owners. So my concerns are as follows:

If he puts up all of the money on the deal, and yet both of our names are on the title and deed, will the IRS look at my interest in the house as a gift from him? I know there are various ways to co-own a home with a non-spouse (joint tenancy, tenancy-in-common, etc.) - would any of these have different tax implications? What are some options here, and does anyone have any other ideas?

I know I can take out a loan to cover my half (or whatever portion) of the cost of the property, or I can treat my share of the property as a loan from him which I could pay back from the income generated from the property - however, I am trying to keep my debt-to-income as clear as possible, so let's eliminate that possibility from the discussion. Also, I know there may be some who will talk about the perils of joint ownership with a family member (which I completely understand) but I am merely looking for a clinical, dispassionate and scientific approach to this issue.

Thanks in advance!!!