Or is this just a theoretical way to gift an asset, but on paper it remains in the parent (grandparent/ gifter's) name?   

So in your example #2, pmt 1 of $252.02 would earn some kind of return for the remaining 11 months of that year until your put it to work in another note in the following year. 

So some basic numbers on these homes:Total estimated value of all homes including their primary home: 5.8MTotal remaining loans on homes: ~900kInterest rates on these homes range from low 3’s to mid 4’sSo two questions: 1) Do I need to cash out refi each individual home if I want down payment money or can lenders lend based on the entire portfolio?

I have a few partners, but went over budget and personally funded the remaining construction costs.  

I've been calling/texting him since 6/24/24 to get the remaining items out (he said he would get them by end of month, but hasn't yet and is ignoring me now). 

Note, even if you assume a VA loan, it still remains under the seller's VA certificate until the loan is paid off.

If the goal is psychological because you have too much debt to sleep well at night then sell some properties and use the proceeds to pay off the debt on your remaining properties; or better still obtain the services of either a psychologist who can get you over your uneasiness or seek out a financial advisor who can convince you of the difference  between consumer debt “ bad” and investment/business debt “good”. 

The seller was willing to carry the remaining balance.

If inflation remains sticky the fed may not lower rates much in the next 3 years.

I would list every single item your counting as capex, their useful remaining life and their cost that day.