Roth IRA as Cash Reserves / DP Gift Allowance

[Mehran K.]

Hi everyone, real quick questions!
Question #1
As far as conventional lending goes for investment properties.

I have $26,000 in my Roth IRA of which $21,000 is my direct contributions. I am able to take this $21,000 out anytime I want, penalty and income tax free (considered a return of basis). I have also read that retirement accounts are counted at 60% for cash reserves.

Am I wrong in saying as far as calculating cash reserves it would go like this:
$21,000 Return of basis counts as $21,000 toward cash reserves.
Remaining $5000 would be x 60% = $3,000 Cash reserve.
So my Roth IRA would count $24k cash reserve.

I'm thinking this would have to be how it is because I can have this $21k withdrawn to my checking account in less than 2 days with no penalty. But who knows! I'm hoping someone familiar with this can chime in.

Question #2
Are gifts of any kind allowed on investment properties? This would be for residential property investment property #2 if it makes any difference.