I suspect the person who bought it on the wrap actually just lived there for free I would not believe them when they say they made payments. and the original seller got wiped out and now has trashed credit as a parting gift..

His ROI will be equal to your interest rate; you can negotiate how generous or profit-seeking said family member wishes to be.Fannie Mae does not allow gifts from family for purchasing investment properties.She does, however, allow 2nd position mortgages secured by real estate other than the subject property to be used as funds for down payment, reserves, closing costs, etc. 

I fear if i sign the offer form and the seller sees them on the proof of funds letter, the seller will then want something in writing saying they are gifting me the money.Anyone have experience with this?

In fact on one difficult deal that she helped pull together I sent her 2 gift cards to some local restaurants and some cash.

. :)Edited:Well, I was right, and, IMO that guy exaggerates the impact, real estate is excluded in part, and it was applicable to gift transfers.

Also, you can only use gift money to purchase your primary using money from them.

This is an excellent book that makes a great gift to someone you care about that lets negativity and non-believing rule them.

On top of that, I usually give a $10 gift card and thank you note for all leads even if it doesn't close.

Drop off a gift card and an oven thermometer.  

"If you believe you CAN or If you believe you CAN'T, you are right, and that will be your future.The best gift I can give you is this.Best of luck to you,Brian