You have to look at risk/reward ration ( what is my upside versus downside and conservatively how long will it take to get there?) 

@Jose Pena I would use it to cover renovation costs, especially it they had rewards attached to them and I had multiple solid exit strategies.

The market doesn't reward that kind of real estate investing there as it does here in the Burgh.

I'm trying to find the balance between risk and reward.

It's going to be tough to cover CapEx and maintenance with only $350/mo and the risk just doesn't seem worth the reward.

@Leroy Feireira-shearinBig risk and uncertain reward.

However it does have its risks and rewards.  

1 - Any qualified charitable organization that aligns with his values, and accepts donations of real estate.2 - If he donates the land to a qualified organization he wouldn't realize gain or loss on disposal, instead he'd get a charitable contribution deduction for the fair market value of the land. 

Now if the deal is much thinner then your risk to reward ratio can be way out of whack.

I know the old phrase high-risk high reward, but being cautious is also a good way to not lose money.