It can work if you set clear expectations from the beginning.

@John Lee I would suggest that you identify a clear focus and business plan before you quit your job.  

This is really clear information.

However, if this is our primary residence for at least 2 years after they gift/transfer ownership to us, would we be in the clear of owing on capital gains taxes up to $250k per person (or $500k total)?

Good Afternoon @Lance S.So to clarify you are looking for commercial lenders to speak with in addition to getting a clear understanding as to to valuation of the Professional space (I have a few depending on what your goals are).

I own a rental property free and clear and am want to pull out 25,000 for repairs in order to flip it. 

I told them that I sent them a check and the date it cleared in my bank account. 

Already deposited the check and it cleared and going to register it tomorrow.

Im clearing $500 a month with a $70,000 loan and 0 out of pocket. 

It's already on LoopNet so our definitions of "Market" are clearly different.