I would like to know are there any tax implications on my end if I receive this house as a gift?  

Maldanado my wife and I received DR's Total Money Makeover as a wedding gift.

They give their tenant a card, a gift, and an entire month of rent free for Christmas.

Help for Airbnb and Vacation Rental OwnersWhile long-term effects on the short-term rental industry are debatable, here are some things you can do right now:Reduce your vacancy rates as much as possible by offering discounts and being more flexible during this timeCut your expenses by eliminating welcome gifts, reducing amenities and subscriptions or applying for mortgage deferral programs, as discussed aboveIf you’re an Airbnb host, apply for cancellation reimbursement under the $250 million Host Relief Fund available for qualifying cancellations (up to 25% reimbursement of what you would normally receive from a canceled booking)Consider turning your short-term rental property into a long-term rental, at least for now, as the traditional rental market is not expected to be impacted as severely as the short-term rental market  Additional ReadingResources for Property Owners and Agents from the National Association of Realtors is a great list of general recommendations and resourcesList of Relief Programs Offered by US Banks, published by the American Bankers Association, is a comprehensive list of specific measures banks across the US are taking to help borrowers in needCOVID-19 Tax Resources Center by the Drucker Scaccetti tax services firmLegal Guide for Landlords by Julie Anderson, written for the Mid-America Association of Real Estate Investors, provides general legal guidance and advice for real estate investors  Please let me know if I missed anything, or if there is any inaccurate information, so I can correct it.  

as a new agent you need to decide where you will hang your license,(broker), you dont work on your own, part of the idea is than an experienced agent will over see you and help you work,there are many companies out there, interview with a few, let them talk, most would rather hear themselves anyway, steer clear of more independents that boast letting you keep more, not for newbees, i started out with national chains till going to remax after many years, the chains will will have additional training for you, I also mentored two other agents after hitting elite status on nationals, be ready to give some of commission for mentoring, dont volunteer it up front, you will have many fees to pay starting out, sometimes you can also be an assistant to a major agent too, you will list thru a multiple listing service that other agents used to find houses, public too, they cost also for membership, on your own you cant list on craigs and do open houses, there are some who only list and some who only sell, and some inbetween, if you are lucky enough to get both sides, suggest you get someone else to take buyers side for transaction if you have iron clad relationship, or stay neutral, some list only to take buyers elsewhere, one house one sale, one house many buyers, what ever you do stay intouch with listings, plus with national agency lots of experience, lots of ads, national website, referrals,traing avail if you got in this to work from home and make a large commission right away you got sold, fees will eat you up, sales take time, money and experience, some get in it to buy their own, that is an option too, do lots of phone time, stay friendly with all in office, avoid politics of all kinds, do rentals to pay the fees, they can  turn into buyers, expect to make first listing within 3-6 months, sale 6 months, till up to speed, my standard was 2 of each a month, some more some less depend on season, can tell you stories.... doing floor time once had buyer walk in, said wanted to spend no more than 2, turns out was million, no one wanted to do floor time, also my first listing was a real frank loyd wright home, other agents would me give their rental lookers, be willing for all, I worked in area of NJ where a famous golf course is, was one of few that belonged to all 3 mls, so had advantage, a $1500 corp rental relocation will some day buy, get to know the relo person, we used to give nice gifts to clients, make it something they will see everyday not flowers or candy

The equity that is "gifted" to you (principal pay down from the tenant, and appreciation from the economy), has the same face value, but it also has the same real value. 

So don't trade/buy equity...let your tenants (rent to mortgage payments) and the economy (appreciation) gift it to you. 

1031 Exchange - you can 1031 exchange into another like kind property (virtually any piece of real estate including land) in which your taxes on the property are deferred to when you finally sell without exchanging (or gift to your family - in which case you nor they every pay taxes on it).

Regardless the federal government is sending cash payments to most Americans so in the absence of a loan or gift from a private acquaintance the government is stepping in for the average American. 

In-Ground swimming pool installed -- I am trying to get the appraisal amount as high as I can so it'll allow concessions for Closing Costs and Gift of Equity as Down Payment and Equity in house after closing. -- House down the road same design but not updated went for 352,000 (Port Jefferson Station, NY)So with the market where it is and mortgage rates getting lower I see it as an opportunity to jump on a low rate.