I understand that you have to do a gift tax return when adding them to the deed if you already own the house, but there would be no tax due, as it just goes against the life time gift exemption.

Lenders came up with all creative and somewhat questionable ways for borrower's to qualify; shared appreciation mortgages, graduated payment mortgages, interest only, 40 year loans, investor co signed mortgages, down payment gift mortgages, etc.   

FHA.Down payment gift from mom, and all of a sudden it's easier to get a 30 year mortgage than to sign a 1 year lease...

Hopefully the capital won't be a big issue since your family can "gift" you money to help with the down payment assuming this will be your primary residence.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.There is a case paying out in Collier County at this time.

I have a relative that is willing to gift some cash and I can get some private money to cover the rest.  

Give them a little coffee shop gift card and thank them for being a good tenant.Final thought and not to sound paranoid but remember that house fires happen every day.

There's two camps on properties:invest for appreciated FUTURE value (ie speculation)invest for cash flow in the here and nowAfter 18yrs of buy & hold for the latter, I am taking the former as a gift/bonus after depositing18*12*6 checks(1296) * avgrent(850) = 1,101,600 USDergo (and obviously) I scoff at appreciation speculation approach

(give them deposit slips)Have the tenants email you with issues (not phone calls)Let the tenants know that your are the owner, you expect them to take care of their unit (inside and outside), to report any problems immediately by emailLet the tenants know that you appreciate their feed back and their rent payment on timeGive them something for Christmas, a turkey, gift certificate, cash.Ask the manager for a report of all maintenance performed and the cost for that foor the past 6 monthsIf you don't want to manage the units, interview other management companiesAdvertise "Wanted part time real estate manager, to inspect properties, collect rent and report on maintenance issues.

At the moment, we have decided that they will purchase the property in cash and then sign the property over to me after closing (either as a gift or by me taking out a personal loan from them, secured by the property).