Unless you can purchase the first home as primary and show you will be buying the next FHA home closer to work, or out of state.There is also something called a "Gift of Equity" where you do not have to assume the loan you can use gifted equity for a down payment and closing costs.

On renewal I would do market rent and whatever you want to give for disruption and noise give it as a gift card or some similar not a reduced rent. 

Grateful for friends in the BP community who've gifted me "The Book on Managing Rental Properties" by Brandon and Heather Turner.With so much to learn in such a short period, I'm eager to hear any advice this community has to offer.

Or see if someone is willing to give you a "gift" for the downpayment. 3.

Am I foolish for looking a gift horse in the mouth or am I dodging a bullet?

It is a possibility that my Mother would at this stage gift me the down payment to take on a second primary residence loan but we are still discussing. 

(different loans have different seasoning periods for your funds and different guidelines on allowing gifted funds - something to consider) To determine closing costs you can call a local title company in your chosen area and ask them for their fee sheet and your lender should be able to provide you with any other fees associated with the loan.

We have something called CHFA that will gift you 3-5% for a down payment for a slightly higher interest rate. 

Do I need to gift Rent to parents?

I assume the person gifting you the house is far from their deathbed.