While you are at it just buy his direct neighbors some pepper spray and tazers as "good tenant gifts".

With FHA you can have credit scores as low as 580, total debt to income (DTI) as high as 55%, no reserve requirements, and the low down payment of 3.5% that can be completely gifted to you from a relative (no money actually from you).If you want a good mortgage broker recommendation, Private Message me.

You can also use gift money from a relative for down payment if that is possible

That is because my goal for my first 4 houses has been to get them bought, rehabbed and paying for themselves entirely independently of the rest of my portfolio, and to have them paid off in time to gift one to each of my children.  

I would advise to NOT ask for gift money, or money w/out strings.

The IRS could consider that a gift and charge you a gift tax. 

Hello BP Community,My father-in-law would like to gift my wife and I his cabin.  

I don't have all the money for downpayment and closing costs I have been told I need to get a gift from a relative.What should I do, how I can get through it.

Have you thought about more down with a gift from your family?

yes Aryelle that is correct you will never get second position HML at 100% LTV.. if you have no down payment you need a money partner .. or you need to save your money until you do.. like most folks do when they buy a property.. or inheritance or gift from parents or grandparents or family.