What you have are 2 separate situations.
>They can gift you any amount they want at any time for any reason. If they give you more then $15K per person per tax year then they will need to file a gift tax return. What you use that money for is immaterial.
> If you buy a rental then you can rent it to anyone you wish and report it on the Sch E as long as you rent for a fair market value. If you rent to family at less than FMV then it is considered a not for profit rental which has different rules.
