So I currently have a large amount of money 'allocated' to charitable donations. It will include two inheritance and probably be around $200,000. In fact it's more then my annual income (around $145,000 I think?), so I couldn't donate all the money in one year. I already donate a fairly high percentage of my income to charity every year, so it may in fact take quite a few years to manage to donate all the money I will have this year in addition to my usual yearly contributions even if I donated the maximum amount I could claim on my taxes every year.
I have also been debating for awhile buying a large property to rent out. I am in an area where rental values are quite profitable and I have a somewhat unique means of finding high income vetted renters who would be a lower risk then the average renter. If I did decide to buy a rental it wouldn't be until after the housing market had settled some and prices were a bit more reasonable.
Assuming I considered buying a rental location with the intent of using it solely to increase my potential future charitable investments I'm wondering if there is a way that I could officially register the entire house as being owned as a non profit and thus all rental income should not be taxed? Assuming it is possible at all how much effort would it take originally, and would it add any extra logistical effort into my managing the house (finding people to rent it, recording rental profits etc?) Similarly how could I do that while still gaining the maximum tax back from charitable donations?
Basically could investing in a rental property (assuming I decide it would have a positive ROI to being with) be a viable option over just donating the money I currently have?