You go through the project once with a huge gift of free land and get educated on the process.

Not as a gift and not voluntarily... so it's worth further research.

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No one could even qualify for a mortgage here unless using a first time buyer assistance and some very generous cash gifts from parents for a huge down payment.

PLUS….A big announcement and gift!

There may be gift tax consequences of adding you and taking him off the deed.best of luck The buyout price should factor in as if he had just sold the property and paid expenses to sell the property(agent fees, transfer taxes, etc)

Next thing is if you have any family that will gift you the money, co-sign for you, or partner with you.

@Tim Simmons No, we don't typically give the house captain a discount, but we've started to give them some type of gift card if they're doing a good job communicating.

@Jennifer Panian You're on the right path, thinking through how title, leases, and ownership structure affect both real estate professional (REP) status and potential gift or estate planning.

I have been told to do a Gift of Equity,  someone else said something about purchasing then fixing and cash out refinancing...others told me to just go to bank and get a regular loan for 90K ??