.- Purchase price in the $130-140k range (aware this could trigger potential gift tax, looking for advice here)- Interest rate of ~7% results in P&I of $874/mo (assuming no money down, using the built-in equity), market rent in the area is $1700-$1800 for comparable properties. - Property is in good shape and only needs $10-15k of improvements.Below I've listed the financials of our joint partnership:- Access to roughly $40k in Cash- 700 & 780 credit scores- Joint Income of $300k+, $400k+ including spousal incomes - Both of us have sub 20% debt-to-income- One partner highly skilled in managing people, and plan to have him be the “people” side of the business (screening tenants, working with contractors, etc) Other is experienced accountant that will manage flow of money, refinancing down the road, financial reporting, tax, etc.Main questions:How should we joint purchase the property?

Sometimes we'll even bring a gift card or baked goods just for good measure :-)There are certainly those occasions where tenants are difficult or argumentative, but it's not often.  

@Yvonne Ruiz not so much a 1031 issue as it is an issue of gifting. 

Being a landlord it is important to have a gift of working with people.

OOS investor looking to send a gift before the holidays for my property manager and contractor, any ideas?

You will still need to show the bank and the seller that you have enough cash to close but those could be gift funds if you don't have the funds.

Foreclosing on your own second lien is a more intricate route, promising a first lien position if successful.

When we do our move-in, we read and talk about everything in the contract and give the tenant a packet of picture hooks (5lb type) with their move-in gifts.

You can also get a gift letter from a family member for some of the down payment.

Technically yes you can get it for 100% no money down. that 3.5% downpayment/any closing costs can come as a gift from a family or friend.