Best way to transfer a property between family members?

[Ramiro Rodriguez]

What is the best way to transfer a property? My father owns a rental Free and Clear, He is okay with gifting it to me since i manage the rental and the deal with the entire process of keeping up the maintenance ect. Essentially i manage it and he is hands off. He is okay with that since our relationship is very close. My question is, Since i want to cash out Refi it and start the BRRRR process on another property what would be the best way to transfer the property to my name so that when i get the mortgage its in my name and not in his. We are in agreement and he is okay with doing this. Im looking for the best option without getting hit by uncle sams gift tax.

Any input helps!