They have a home about an hour away from me that they said they'd essentially give me.  

This is something I just recently learned about, and all though I'm soon to be a CPA, I'm not an expert on personal financial products.

Essentially which communities do you feel get you the biggest bang for the buck.  

I probably would have done Allure in the bathroom as well, but did that first prior to knowing about the Allure product line. 

Use banks for more traditional products.

If she were to put in 100% of the capital but wants me to have 49% ownership and 10% of profits, what business entity should we chose and would there be issues with taxes since I'm essentially receiving a monetary gift.

Unless you are a wholesaler, you probably aren't selling some product or service which is what is covered by the Elevator pitch scenario.  

Even if you only get to a secretary, I would explain the situation in a positive and productive manner.

The only things you don't include are items specific to financing - essentially, Principal and Interest.  

You would have to essentially refinance the family loan as part of the 1031 exchange.Let's say you family gave you 20K towards a property that is now worth 200K.