(1) Are lottery winnings subject to the lifetime gift tax exclusion (several million $), or are they taxed as straight income?
(2) If you’re dealing with hard-money lenders and are willing to pay 10+% p/a, why not? Assuming a clear exit strategy of selling the home, the loan would be worth the risk to some. QM loan obviously won’t happen, but there are other means of borrowing with less pleasant terms.
