That turned out to be a huge gift you gave your sister, Mark.

It would be nice to offer a little gift of some sort.

HI Jon, the seller credit can only be used for non reoccurring and reoccurring closing costs and cannot be used to offset the down payment of 5% down so the borrower has to bring in their own money either documented from their own funds or by gift.

If you are getting fair market value and there are no excessive marketing costs involved why look a gift horse in the mouth.

It could be rental income, W-2 Income, it could be a gift or an inheritance.

You (and your spouse, if you have one) can each give them (or anyone else, for that matter) gifts up to $14,000 in 2014 without having to file a gift tax return.

As for being a part time plumber or electrician I would not hire them as well but that is because I learned to handle most of those problems via youtube, I must have a gift.

Graduation gift was a down payment for my first property.

We aren't going to quit our day jobs lets just say.What We Need to figure outWe are trying to figure out how to set ourselves up for A. being able to acquire the land gifted to us from my parent in laws with minimal tax/cost to them or us B Being best set up for tax and cashflow on our rental income and the eventual sale of the property.

Probably through a gift deed