Transfer of ownership -- Help!

[Brad Spuhler]

Hi BP community! 

I'm new to real estate investing and could use some help.   I'm working on rehabbing a duplex that was once my grandmother's house (deceased) so that I can rent it out.  It's been sitting vacant for a number of years, long story.  The house is in my father's name since my grandmother's death and he is willing to transfer it to me since I will be financing the rehab and managing the property going forward.   There is no mortgage on the house so I plan to fix it up, get it rented, get it appraised and take out a loan on the house to fund future deals.  Since I'm planning to take out a loan, I would need to technically own the house.   I've read up on gifting and other strategies but it gets complicated and there are many tax implications.  

Anyone have any experience with a similar situation or could point me in the direction for further research?

Thanks so much for the help!