This is why it is important to have a competent CPA on your team who understands estate/trust/gift taxes in addition to business taxes.

This is reminding me of when I went to pitch for  a condo for a 100 gift card, in Las Vegas when I was 21. 

I would like honest feedback.I know that FHA loans allow for gifts which I could most likely get from a friend/future partner, as a "handshake" and technically be without repayment listed on any sort of contract.

Or if you were renting and were no where near prepared to buy a house before the disaster, probably not a good idea, you'd still need cash for closing costs, which can come as a "gift" but never a good idea to buy a house with no money in the bank even if the lender actually let you do it. 

What are you TOTAL monthly expenses including gas, food, gifts, movies, mortgage, dinners out etc?

My lender had suggested I receive a gift for the down payment.

This is my plan; I plan to receive a gift from my parent which I hope to use as a down payment for the property.

You could split the income and expenses 1/3 each but another issue I want to point out is that when your father added you and your brother to the deed, he made a gift.

Inherited property, gifted property, that sort of thing.

You grandmother might have to pay gift tax on the equity.