Advice on loans using a gift of equity on an investment property

[Kimberly Smith]

Good evening everyone! I am looking for some advice on a loan using a gift of equity. Unfortunately my father's home will be going into foreclosure in 2 weeks and all attempted options for him to keep his house are no longer viable. My husband and I are interested in buying it as an investment property, as it is not an option to make it our permanent residence. The lender we have been speaking to said they can not give us a loan using a gift of equity if it is not our permanent residence. I have heard before that this is not a hard rule and can vary based on that specific lenders underwriting guidelines. Does anyone have any experience with this situation? Thank you so much!