Please also verify the accuracy of this information at the time you are considering these options as guidelines change.price Decorating allowancesRepair allowancesMoving costsNote—a dollar for dollar sales price reduction is also required for - Excess rent credit and gift funds not meeting FHA requirements Contributions exceeding the actual cost of prepaid expenses, discount points and other financing concessions Credit Requirements Required is 600.

Gift funds are considered part of borrower’s own funds.60 day history is required to verify the source of the down payment.

The program has produced a lot of wealth for its members....well, at least the ones who participate and take action.Bottom line, you're likely going to pay one way or another unless you buy your own deal and are gifted with a natural enough instinct to run it well w/o training from those who've been there, done that.

I know if they just wire me 60k that it will be subject to a hefty gift tax.

That in itself in light years ahead of where i was before. to have experienced individuals to whom who have there personal number to get assistance from and whom are whiling to help just for helps sake is an awesome gift to me and to anyone else starting out.    

My strong point is, as I've been told, is my gift of gab and I love speaking with all types of people and love picking peoples brains.

There are also nuances to how to successfully frame applicants who are atypical but still qualified.... self employed, getting gifting, co-purchasing, etc. 

You could also get a gift to purchase your first home. 

Way to keep recycling that BP knowledge and continue the cycle of Bigger Pockets and the gift that keeps on giving!!

It looks like a gift and there are allowances for this; above a certain threshold gift tax is due…I can only advise you to be honest and to report this to the tax office if necessary (it could even be that you have to report a gift, even if no tax is due... please read the legal text carefully).