you buy a Picasso for $1 million keep for a number of years then donate it to an approved charity with an appraisal of $15 million and take a tax deduction for $15 million.

Unfortunately the charity also owns the building.

They do what they do best while we don't bog ourselves down in things that take away from the primary mission.I'm sure that some non charity investors will find the right group & the right project where all the stars align and they can make it work profitably for them.

(especially in areas like Ohio where replacement cost can be significantly more than livable homes can be purchased for) And NEFF stands for Not Even For Free, your relative's best bet my be to see if they can give it away to a charity, but honestly most of them know better because they can't really do much with it either.

Unless you view RE as charity, don't treat it as such.Secondly, I view money as freedom and achievement.

They never paid their "portion" of the rent, so every few months we would start the eviction process and they would go around from charity to charity trying to scrape together the money to pay their portion.

I had a tenant who lost her rental assistance, and went to Catholic Charities for help.

Next, are you willing to sell your house on your terms to avoid a forced sale.If that doesn't work, then it's "Hey, I'm not a charity, if you are not willing to do these things to help yourself, I can't continue to help you"

That is what insurance/savings/family/charity/etc is for.

If this deal is 'average' - you can still proceed - just know that you are doing so in part as a charity case.Second, it sounds like you're trying to come up with creative financial solutions - but they are much, much, much, more (yes, 4) complicated than your post suggests.