I usually recommend @Dave Foster

It might not always be financial, but a heartfelt "thank you" from someone less fortunate can be incredibly meaningful.Remember, something is always better than nothing, and this is a wonderful opportunity to give back to the community!

This option is typically better when the relinquished property is closer to the end of its tax life.

Be aware that if you have a 401(k) or IRA, your fees are hidden and you are paying a lot more than you think for those fees.

Because you live in CA, I would also have an airtight agreement and probably not let them live in the property for more than 29 days or whatever the cutoff is for preventing right of tenancy. 

If your AGI is less than 150k, think about cost segregation.

The price for these 4200 SF buildings are very low about $135,000 per unit leased at $1350 a month and they have high end custom finishes and private patios, covered parking for 2 vehicles and usually all individual meters.

Net income is what gets taxed and that is different than cashflow.If you are managing your business correctly, usually cashflow is higher than net income because depreciation expense lowers your net income and depreciation is a non-cash expense.

Thanks, SteveI'm more concerned about the possibility of active termites than the cost to repair existing damage.

I personally feel off market is not usually a good choice for a newbie. - avoiding lower class is important but even more so OOS.