Legalities of renting to self / Rent expense definition

[Account Closed]

So I recently heard an attorney go at it with a tax liability guru on this an figured I get some additional insights from some 'experts' on here. Here is the gist of the issue....

An investor decides to 'rent' a property he (or she) owns to a 501c3 organization. But, it turns out the investor is also the founder of the 501c3 entity and for IRS purposes is a disqualified person at the 501c3 organization.

The IRS actually attempts to define what rent is: ..."Rent is any amount you pay for the use of property you do not own... If you have or will receive equity in or title to the property, the rent is not deductible... many find this definition cryptic and unsatisfactory in some ways.

Question... can the investor 'legally' charge rent to the charity? Does the charity have a legitimate deductible rent expense? Any thoughts on this issue?