Whatever "gift" he offers you - take it!

-buy cabinet doors bumpers. gift to neighboor and tenant-alternative option: buy a 1/2 box of donuts. talk with building engineer (@John Anderson: the shortest path between point A and B is a straight line. going to HOA (as you know already) is the 1,000 miles path)

Seeing the smile on someones face after they receive a gift or something of value is absolutely priceless.Earlier this year, I was fortunate to receive a property from a distressed seller from out state for ZERO dollars.That is correct.

My source of funds are taking withdrawals of ROTH contributions (last choice) or using part of a large monetary gift that my parents are going to be gifting to me as part of their estate planning.

Even with "gift funds" the 30 or so banks I called wouldn't even consider me.start small and work your way up.

There are many ways to pay PMI:- LPMI - lender paid MI which is a fancy term for taking a bit higher rate to absorb the cost of monthly MI for the life of the mortgage, depending on your credit score it may take .125%- .50% more in rate to absorb your entire premium for the life of your loan- BPMI single premium- similar to the above it eliminates the monthly MI premium for the life of the loan but BP part of BPMI stands for "borrower paid," so as you might have guessed the borrower pays this premium in a cash sum at closing either from their own funds or seller concessions they've negotiated from a seller or a gift from their giftors -BPMI monthly or split premium - MI can also be paid as monthly MI which is the stereotypical way to pay MI and it can also be paid as a split premium or hybrid whereby the borrower pays a good chunk upfront to have a greatly reduced monthly MI payment.Most people take LPMI and absorb it through the rate via LPMI to eliminate MI for the life of the loan. 

I would love to gift it to her but we not that rich and that is why we want a formal agreement, just to cover our "investment".

If your in a big hurry , see if you can qualify for a FHA loan now and have a family member gift you the 3.5% down payment.

Any deposits over $500 have to be explained and gifts for the down payment on a house have limits and generally can only be received from a blood relative. 

I bought the property from a family member and they gifted me the equity to use as a down payment.