Hello BP Community,My Sister would like to gift me and my other siblings our parents home, with our plan being to get a heloc on it and rent it out while investing the money from the line of credit into rentals or flips.

I have pitched to my family (parents/siblings) a situation where we invest in properties that cash flow, with the goal of having a little bit of income to offset personal expenses (was thinking primarily of student loans of my siblings and I).

My in-laws and a couple of my siblings still live there. 

In addition, your siblings aren't Disqualified Persons either, nor would “significant other”.

Currently working on one where the seller has 3 homes to sell side-by-side - the only problem is that their are 4 siblings involved (ugh...).

Maybe but they're probably just siblings.

He has 8 children and I thought this would be a good opportunity for his oldest son to learn some skills and make some extra money (and get out of the house he shares with 7 siblings!).

It could go to your sibling without going through probate.

The other $5k is to help out my parents, parents in-law and other siblings if need to.

It turns out the house is owned by three siblings ( two sisters and a brother) all of whom are on social security.