If it's your brother, but you are going to be the mortgage holder, then I think you'll run into problems with the lender (although they might allow some portion of the downpayment to be a "gift"- I'm not sure what the regs are on that now).So you guys should do a bunch more research before you jump into anything.

I have a small team in KCMO, a great realtor and a great PM.The realtor's Name isDan Goodwin under KellerWilliams, http://www.kw.com/kw/agent/dangoodwinTell him Jameson sent you, he sends me a little Starbucks gift car for referrals.Dan has a minimum commission of 3k (whatever the seller pays gets taken out of that) But Kiyosaki says pay good people good money when they make you money, and Dan's worth it, he knows what investors want.

We found the owner of the car who was a nice young lady that just got the car her father got her as a gift.

I am concerned my father would have to pay gift taxes on the properties when he passes.

Is he gifting it to you? 

I feel like I need the gift of gab to be very good at this!

(I always ask, "If you had a $20,000 gift card from Home Depot what would you update or fix up on the house?")

The gift of desperation is a powerful thing.

I can tell you how it works in my state and the general (federal) tax concerns.The partnership (LLP) would need to agree to transfer the property to you or an entity you own (such as an LLC) under terms that wouldn't equate to a gift.

However, there are still may tax consequences that need to be examined.The three main US tax issues that foreign investors need to be aware of are: (1) income tax; (2) estate tax; and (3) gift tax.