Any suggestions on going about this without getting involved with "gifting taxes"? 

He lives over here in the central part of the state and is burnt out on going back and forth.  

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

park owned homes are not a good thing.. they are tough to maintain the parts are not available like regular houses you may want to rethink this.. banks generally will NOT lend on the homes and don't like parks were the owner owns all the homes because of on going repairs.. also you should put this In Market place if your trolling for investors.

They complain about everything renovation on going next door, they got a splinter in their foot on the wood deck, complained about a brick wall I pointed up the whole wall they complain about the dust, they saw a bug (1) but I can only spray outside no chemicals allowed inside, drywall is not sealed to the brick, it goes on and on.Account Closed What is an Alligator?

We have several investors who want in at a 50-50 split with them bringing the down payment of 20-25% and us doing ALL of the finding, aquisition, rehab management, placing tenants, and ongoing business management and PM. 

I just moved to columbus OH and heard about this from my local REIA (COREE).I plan on going and once again face my fear of large social events from under a table :)

There is a difference between ongoing repairs and repairs that have stacked up over the years as the seller has sucked out maximum cash flow and put a band aid on everything instead of properly maintaining the asset.

This is not really a red flag, as there are ongoing repairs and maintenance for any condo, and well-run associations take care of these things on an ongoing basis. 

It depends on your location, size of property, purchase price, nightly rate you can get, your upkeep of the property, and many other factors.If your unit shows well in photos and if you build up some good reviews in the first months, and your pricing is reasonable, it will be consistently rented.We have 3 of them, and all less than 1 year so the jury is still out, but in our experience so far, the startup and ongoing costs have been higher than expected, but all are getting good reviews, so in year 2 (now that they are stable) we expect to do pretty well.You have to make sure your town allows it, and you have to decide if you will manage it yourself and take on that extra work (communicating with the guests and people who will clean/make repairs) or if you will hire a property manager, which can be expensive, upwards of 25%.