what would you do?

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I've got an uncle is having trouble making his mortgage payment. Last year he refin into a variable rate ( I know I know)...He's got really bad credit and now that the subprime has gone to the dogs I was thinking about buying him out and renting to him.

His mortgage is 138,000 and the house appraised for 198,000. I was think about buying him out of his mortgage 138,000 and rent to him for two years and then giving him back his mortgage, but during that time I would take out the equity and buy some multifamily homes.

Now my wife is concern that he wont pay us and we will be stuck with the mortgage - the problem is - he's family how would I kick him out if he did that....

Would you do the deal?