Receiving "Gifts" to help with down payment on 1st property

[Ben Glassman]

I am looking to purchase my first property and i am currently going through loan processes. I am aware of FHA and gov assistance loans. But I am looking to place 20%-25% down with a fixed interest conventional loan. I plan on doing a little house hacking to start off fix up the property etc. I have enough for half of the down payment and another party close to me expressed interest in helping with the other half in going in on as an investment. I have asked the lender if this is possible and they mentioned about "GIFTS" I am coming across if i were to receive a GIFT of a certain amount i would have to pay taxes on the GIFT. 

Has anyone had any experiences with this and could shed some insight? Is there a better way to go so I can utilize this as an investment and not have to pay taxes on the GIFT or amount of money they will be contributing? 

I am in need of some assistance and would greatly appreciate any given.