However, they have a restricted appraisal and I'm not sure if I can use that to verify that I am doing a "bargain sale" to a charity.

If they still work, you can also post them for sale or call and see if a charity wants to take them.

However, you have to realize that you are running a business, not a charity.  

If you do not know the rules you can not you expect to know if a PM is doing their job.Also if you intend to operate a business rather than a charity and market rent is $700 raise the rents to $700.

I do agree in not giving away the free rent, but something like a gift card for Amazon, Dinner, a donation to a charity that means a lot to them especially this time of year. 

I am nearing the end of my patient wait with the tenant....Abhilash - sounds like you are running a charity ... you should not allow the arrears beyond one month because when they have a hard time coming up with one month of rent, getting two months worth becomes a near impossible accomplishment for the delinquent tenant.

That said if it was me I would have a char with my wife to consider living in a multifamily home for a year or so so you can save money and like a few of the guys said above it would be easier to get a OO mortgage.

Originally posted by Jared DeValk:Rather not say, it's our competitive advantage, or our "secret sauce".So, you manage a charity but don't want to disclose the charitable function.Yeah, I"m sure there's nothing going on there that anyone would find unethical

You're running a business, not a charity.

I'll guess that was pushed for by the union.Actually for all of those of you that say you can't get any useful info from old books and stuff I heard this very explicitly in a audio book by Bob Allen from the early 80s (That I got for like $.50 at a charity auction in 2010 I believe)