If you are not planning on living there too, you would only be able to offer a gift to that person and you would likely not qualify as an eligible gift donor unless you are closely blood related. 

We have family ties to the area but live out of state.

This will give us plenty of time to take additional steps as needed. 

When I'm at a property myself I'm experienced enough to do a thorough visual inspection but it can sometimes be difficult for me to be there as I live out of town but I suppose perhaps the answer is that I do need to make sure I can be there in person.

I live in a small town in Oxford, AL with a population of a little over 22,000 people.

@Gerard ScrantonPrivate lender probably best option and a few additional comments1.

I live north of Austin which multifamily homes range in $350k or higher.

I am a contractor/investor , and live 30 minutes south of the city , I wont do work in the city , nor will I invest . 

I added value to the deal by doing a "live-in" renovation.

Fraud….class action lawsuit….punitive damages….I know we live in a litigious society but my goodness.