Then yes, get an attorney who knows the law and is the legal equivalent of a pit bull.Save noble causes for charities YOU chose to give to, not what someone else sets up in your name, on your dime, and without your consent. 

Besides any legal complications for the deal itself, most lenders and note holders would prefer to not to be known forever as the one to put charity X or church Y out into the street?

You should consider starting a 501(c) charity to help fund your new mission. 

The day of closing we called Catholic Charities to bring someone over that speaks thier language to let us in.

I'm wondering if it's a viable idea to build a charity around the idea of buying distressed notes with the intent to forgive them outright. 

When I began real estate one of the thoughts I had in mind was to someday use real estate as a vehicle for supporting various "charities".  

I would be willing to help out if you have a charity project that could use any of my expertise.

You aren’t a charity or a non-profit, so everything’s going to cost money.

ONe of the big wholesaler jumped on another thread offering to go drive by and made the comment  ( hey I probably sold them the house)  OK so wholesaler makes moneycontractor makes money.. don't think oceanpointe was doing this a charity someone had to own these and want the owner profit.. then you have the marketing company and you and I know what they make.So you add that all up and there is not enough gross revenue to feed all the mouths.. so what gets done is you buy the worse hood rats for next to nothing.. market them like they are top shelf investments.. sell them to a bunch of newer or newbie investors who don't know what they don't know but because you have this huge social media presence they are inclined to trust you. 

In that same market there is someone looking to sell their home and through appreciation are going to make a great return on their house which they could use to retire early, upgrade, cover assisted living for the elderly, give to charity, or make it rain at the club.