We are starting to get a clearer picture of the benefits and burdens of having an investment property, but we are still very new to this. 

Be sure to check and see if there’s any tax benefits to you from buying from the non-profit.

You've made numerous false statements about how financing works.

There are some benefits to having an LLC on reduced liability, but there are more expenses. 

as a "donation" (translating to the benefit of taking a deduction for 2025).

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

Here’s what you need to know:Key Benefits for Landlords1.

If so you may benefit from a step up-in-basis.

A couple of things I like to tell my newbies-Owning a short-term rental property can offer significant financial benefits.

It will familiarize you with the basic terminology and benefits.