Non Profit Organizations and Wells Fargo's free houses

[Tim Hinerman]

I have been approached by a non profit who has been given a house through Wells Fargo. The property is in bad shape, but a large portion of the remodel is being donated. The portion that won't be donated is for labor by a local contractor. They are asking me if I will buy the property for $5000 more than what it costs to fully rehab ($10,000) so that they can pay their grant writer. The property will then be mine, and their only request is that I open it up for affordable housing for 6 months.

I have never heard of Wells Fargo donating houses, and the non profit org. is telling me that if this house turns out to be a success, then she can get many more and sell them to me. She doesn't want to manage properties. She just wants to make money on the front end from receiving these houses. Has anyone ever had any dealings with oportunities like this?