We tend to always send a 'Thank You' card along with a small gift card to Target or Starbucks.

Want to get a thank you gift, but have no idea where to start.

We appreciated her effort and put together a gift basket just to say ‘thanks’.  

@Matt P.Uh-huh, this forum is just the gift that keeps giving for the IRS.

I used a 10% off coupon + paid in HD GCs which were purchased for 85% on the dollar on gift card reselling websites. 

@Susan O.It could be done, but the transfer in the father's share of ownership would be considered a gift and he would have to pay taxes on the gift.Also, non-married people buying a property together like a father/daughter would lose the capital gains exemption.This is to prevent people from adding their children to dodge estate taxes.

If you're parents are going go receive any money from that then they will have to take depreciation then on that property and it will appear on their schedule E as well (upon sale they have to recapture any depreciation they took or could have taken so watch out for that).If you go further the route @Corby Goade suggests with a deeding you'll want your accountant to advise on gift tax consequences or use of the one time limitation. 

I also sent them a $20 gift card, with the letter, as a nice gesture to hopefully ease any fears they may have about me as the new landlord of their home.

Also if they gifted to me what is tax liability on gifts?

And also because we love our country and our first responders that's why myself and some fellow BP members start aheroshome.org and we are at least half way toward our goal of gifting a brand new home to a deserving first responder.and one of my partners in our charity Brian Burke also started in law enforcement now he runs a HUGE syndication company with well over 2,000 doors.. all great things for many great reasons.