Isn't there a gift tax issue with this since it's over the 11k a year limit a person can recieve?

If the property is currently vacant and needs rehab, you are more likley to find seller financing and attractive lease option terms because the seller want out from underneath the liabilities of owning the property and most likely have other oblgations like the rest of the world.

There is a name for that concept: Limited Partnership.The limited partners just put up money.

Don't most credit cards give credit limits related to your credit score.

Try to find subleasing.There are people who want to rent for a limited time.Check out craigslist.org rental section.sam12Good luck

They are also willing to carry a note maybe enough for the down payment and a bit of fix up money but only short term.My credit situation kind of stinks I’ve always paid cash for everything and I have only limited credit and two outstanding bills leave me with a 604 credit score, not good.

Each property would be owned by a Limited Liability Partnership created in the US.

Would it be beneficial for us to start the business before we start our first rehab project... to protect our personal liability, or should we wait?

There is no "time limit" as to ownership of the Lancaster Condominium Units.

Based on what you're saying you're limitations are, I don't know how much trust I would put in the internet......I like the idea of being able to put a thumb on someone responsible for positive results.