Old, family home was gifted to us.  

My recommendation when you do something like this is to use a Visa Gift Card for the credit card.

We're wanting to know if there are any tax implications since the three not taking out the loan would be "gifting" a large sum of money to the individual taking out the loan.

Even if you are an individual investor, but in the future, would like to gift or pass on your interests in each of the properties/partnerships in the future, creating a holding entity would be simpler, as you can just make the gift through the holding entity, rather than going through each partnership and asking for permission (in accordance with the operating agreement).  

Talk with a Tax accountant to make sure the IRS does not view this as a taxable Gift, given this is only two years later. 

Definitely need to get the ball rolling on x-mas gifts for my contractor and his admin who are keeping this project afloat with all these challenges. 

There really isn't a park close by, but they may still appreciate the "gift" if it's in good shape.

We sent a $100 gift card.

@Megan Hodges You sign a document saying that the down payment is not borrowed funds for FHA (like most home loans), but you are allowed to be 'gifted' the down payment money from family.

There is a $5 Starbucks gift card in it for you - if your timing is right.)