If they give you the money as a gift, there is no income tax consequence either, although the IRS will require an information gift tax return.When you run all this by your local CPA or family practice attorney, ask whether there will be any state gift tax on the amount gifted. 

I would get the lease from the attorney who would represent you if the tenants default on the lease. 

Hi Chicago BPers,Any recommendations for attorneys/CPAs in the Chicago area.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Even though this is basic structure, you will need to work with attorney and CPA to draft legal documents and understand the tax implications and compliance. 

If doesn't work call an attorney to assist you in putting them in a right place. 

Have an attorney draw up the paperwork.

Have the RE attorney on your team prepare the docs.

Well, I guess there's no better time than now to learn.1) You don't ask your Realtor about how to be a landlord, you ask a landlord how to be a landlord.2) The list you seek is one you have to compile yourself after reading books, researching NV tenant/landlord laws, reviewing other landlord's leases, watching videos, listening to podcasts, consulting with an attorney, hiring an accountant, and gathering all of the knowledge you can.3) The more you know, the easier your investing will be, and the more money you will make.

., where it was previously headquartered.High-pressure sales tactics were used to secure money for what were promised to be “low risk” and “conservative” investments, but in reality the funds were funneled to real estate owned by Shapiro, according to the U.S. attorney’s office.Woodbridge eventually became financially insolvent, the scheme began to unravel, and Shapiro in 2017 considering filing for bankruptcy, prosecutors said.Still, he, Roseman and Acevedo continued to sell the fraudulent investments without telling investors Woodbridge was on the verge of collapse, according to the indictment.