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.

Weird intricate social situations arise, and when you know people it's a bit more difficult to lay down the law, then if they're strictly a tenant.Well, you guys are walking the walk.

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?

Look at the 1031 as giving you the benefit of cash flow from one buy and hold in terms of a gift of Uncle Sam rather than paying him his tax.Cheers,Buddy

And, that company AdvantageU sent me a gift card too.

He can then choose to gift it to her if he wishes, and that would be fair.