However, this option comes with some risks, so it's important to consult with a financial advisor before going this route.Gift from Family or Friends: Another option is to receive a gift from a family member or friend to help with your down payment.

Could they "gift" the house to my wife and I...then we sell? 

To fill all the gift baskets you can give out with the money you save from the new energy efficient windows!

@Bill Exeter if I were to acquire the property from him in a gift equity transaction would I have to wait 2 more years after this transaction to be eligible for the primary residence exclusion even though I have been living here for almost a year?    

I never looked a gift horse in the mouth, but as I think about it, this may be a requirement from the state insurance commission, disallowing charging premiums for the same risk, I don't know, but I can see the issue.

Wifey and I are great at stuffing gift bags.....

Hello BP Community,My Sister would like to gift me and my other siblings our parents home, with our plan being to get a heloc on it and rent it out while investing the money from the line of credit into rentals or flips.

I would at first got to the FNMA limit, as these are the best financial gifts you can get, and no one in the US seems to even think about it.I would watch out for multi units.

Gifts received are not taxed in any way on the receiving party.

Do we have to pull it out and sell or gift at the current market value, thus adding to doc stamps and taxes paid for removing from IRA?