As a thank you for reading the post here below are two gifts from myself and MileIQ. 

I'm partnering with someone who is loaning me the money for the down payment, so it's by no means a gift, but I was told it doesn't make a difference. 

It's a sweet cherry-on-top gift that can be presented to the client / investor.

None of the down payment or closing costs for an investment property may be from gift funds.

Have you spoke to family to discuss potential gifting of monies for a purchase which is allowed under owner occupied purchases?

@Andrew S.You should work with your CPA/EA on treatment of this sale.Generally a sale materially below FMV to a family member or friend would be considered part sale and part gift. 

They do not "sell" the asset to the LLC they gift it/give it (which could have tax implications), but as noted in this and other posts, the LLC is not separate.

For example your grandparents passing away with the asset will be a good tax answer but it could be a bad financial answer if they are in care centers and rack up $800k in debt which encumbers the land.1st priority is likely retaining the land, debt free if possible.2nd family operating goals3rd may be tax goals as you may not have any issue until you sell it.4th may be easy of transfer but in taking care of priority number 1 you may find your best bet is to gift the asset away or put it into a trust eliminating this issue. 

I have a note to leave him in the morning, letting him know how awesome he was, and a Apple Bee's gift certificate.

He is originally from Germany and we've been presented with a great opportunity to take over one of his parents’ homes as a “gift” or possibly a small price (later discussed).