How to Offer Affordable Housing

[Isabella G.]

Hi everyone, I'm looking for properties to buy and hold. I also have a desire to use my units as a type of affordable housing for single moms or pregnant women. (I.e. a 3 bed 2 bath rent each room out to a woman for 500/mo. And have someone on staff to make sure house rules are followed and the properties are cared for.) There's a huge need in my city with many homeless mothers and children. There's an area that Is in the process of being transformed by investors from a poor inner city to flipped homes for professionals. Does anyone have any idea how to structure a business to offer affordable housing and/or what benefits are there? Would i need to form a non profit? I want the properties to still belong to me so i can pass them down to my children. I was planning to form an LLC but then realized I want to do something with a purpose. Any help would be appreciated.

[Chuy Gonzalez]

Originally posted by @Dennis M.:

That’s good that you’re making this a nonprofit because single moms and pregnant women never pay their rent anyway ! 

 Dennis:

In my short time as a budding landlord, I have found this to be true as well.