My overall goal, like most everyone else,is financial independence and a nice home.

My mission and goal is to create financial independence for myself and family through real estate investing.

My goal is to build enough cashflow to cover the monthly bills and allow me to gain some more financial independence.

@Chris Masons is correct that the 365 days plays a role, but your original intent of the property is more of a factor.This has been discussed by several CPA/tax professionals here on BP before, and audits have shown this to be the case.

He is also signed up for free classes on investing and other money matters by a group that advocates for financial independence in severely disabled people.So, in a year, with 30 thousand down, training, decent credit, about a $1500 a month income, do you think, without the investors money,only $30,000 saved,he should be able to buy about a $70,000 dollar [$40,000 after down payment] rental home?

Make them sign an Independent Contractors Agreement and Scope of Work, specifying the draw schedule********Flip 3) I hired everything out separately.

We didn't consider this a gift - we considered this a 50/50 purchase, where he funded his half with cash and I'm funding mine with traditional financing.The only reason I care about the "gift" terminology is if this adversely affects my dad from a tax perspective.As it stands, I have an offer going in with my name only on the offer, and claiming a 50% downpayment that I intend to make with my father's funds (not sure if it's relevant, but I have plenty of cash and income to qualify for the whole loan independent of my dad's downpayment).Does anyone have any insight or recommendations?

The banks are audited and regulated on the state and federal level depending on how their charters are set up.They have to show the loans are underwritten with extreme controls incase of a default so they don't lose their jobs or worse face indictments for mismanagement of a bank.Some Canadians choose state here where TD bank branches are located.

It has to be a clear threat of eminent domain if you want to be safe under an audit.

Many will ask that I talk to their realtor even though I explain that I'm an independent investor?