This property will be gifted to me and my wife.

A few scenarios come to my mind:- After a successful close of sale, a small gift to show good faith/marketing such as a $50 gift card to Home Depot?

You'll do well flipping in St Pete as there are many pockets that could use your gifts.

Some other routes to explore are seller financing or using a loan that allows for part of your downpayment to come from "gifted funds".

As for allowing kids to do their own things vs steering them into REI, it depends on your kid's traits, personality, habits, intelligence among many other (genetic) gifts or lack of. 

Usually is only 3% of purchase price which can be gifted or claimed as sellers contribution.

It is the gift that keeps on giving. 

The reserve funds must be in the borrower’s account before the new VA loan closes.o Gift funds cannot be used to meet reserve requirements.• Analysis of Rental Property Incomeo Each property(ies) must have a 2-year rental history itemized on the borrower’s tax return.o Property depreciation claimed as a deduction on the tax returns may be included in effective income.o If after adding depreciation to the negative rental income, the borrower still has rental loss, the negative income should be deducted from the overall income as it reduces the borrower’s income.o If rental income will not, or cannot be used, then the full mortgage payment should be considered and reserves do not need to be considered

I say we ban anyone who copies and pastes robot answers, cluttering up storage on servers for useless word filling loren ipsum type nonense.It's worse than giving someone gift cards they will never use for their birthday.

All they have to do is send 1k commitment fee to the lender in Target gift cards  :).. thats why HML / Private lenders that no one has heard of on BP get kind of a rough time at the start.