Depending on property titling one partner can get the conventional financing and the other can make a gift or use their assets for the remainder.  

I don't think a gift card is necessary at this point, but if you can exchange addresses and phone numbers that would be great.Think like a neighbor....they are going to be worried about parties, noise, trash, etc.

Not a goal that'll be soon but would like to gift them a home that they can live in and enjoy.  

Seems like an overkill and all you need is an insurance policy as any good attorneys first question will be "how much did the LLC who is to be separate from you pay for the property" - when the answer is zero and it was gifted. the next question will be do you gift properties to others as well?

Usually that just slows them down to train you and watch over you.Find out what someone likes, call it a gift, show you'll do anything to learn.

Thought about adding a hoarding clause... one of our tenants has a side hustle where they buy, build, and sell holiday gift baskets.

I am aware of California's Prop 13+58+19 prop tax inheritance evolution and its complexities with LLCs but we are not considering inheritance or parent->child gifting etc.

For example if you wanted to gift $100k to your child to purchase a business, it may be best to make your child manager, with say a 20% interest, while you and or your spouse maintain a 80% interest.  100% of any net income can still be received by your child as manger, or even for just his 20% interest, as profit allocation  need not align with ownership percentage in an LLC.

Sure if you dont have your own 3-5% down payment then yes use DPA if you really want to buy.After going over the pros and cons typically our FTHB'ers or first time home buyers end up getting a gift or bring in their own 1-2% down + 1-3% gift and end up with 3-5% down payment and borrow at regular FHA/conventional rates (avoid the DPA program rates).This is actual experience.

:)  Really though, I'm gifted and complexity is my middle name.