OK if I purchase a home in my name with my father's money?

[Ben Bakhshi]

Hi all, I come from the fatwallet investment property thread, and really like what I see at this forum. Great info and really nice and smart people.

We have a family real estate business and I wanted to know what the consequences are if we purchase real estate in different peoples' names.

3 years ago I had a home purchased in my name with funds from my family, and just now had that home refinanced. We are considering purchasing another home in my name and want to know if it can lead to any negative results in regards to taxes, etc.

I know that I should speak to a lawyer or CPA, we are right now searching for one, but I figured to ask the community since I have an offer on the table ATM.