I want to purchase his home from him, with him gifting me the money for down payment.

I have not been responsible for the selling of our currrent properties, but Intend to change that and see what kind of effect offering something like a closing bonus of $10,000 gift card would have on selling properties at higher margin or (at least as negotiating tool).  

My best suggestion to you Clayton is to find a investor friendly realtor. perhaps a courtesy gift card to them. also get to networking if your Close to north Houston check out Flippinghoustonhomes.com great group I recently started attending.

So now I reward myself with a small gift to myself after each debt is paid.  

What a nice gift. 

She brought the rent in person this month  with a baby gift for each baby.4.

Another obstacle you may face, using residential financing, is that gift funds are not allowed for investment properties.

Their first 33% return will be just to cover their "gift" to you.  

My wife and I have a family owned property which will be gifted to us soon.

If a family member charges less, the amount less than market rate is actually a gift - but no tax event.