So get a Heloc on your rental and put the entire rent to the Heloc while still maintaining some liquidity.There are multiple threads over several years debating this subject.Donate the $1000 to a charity of your choice.

, setting up an FLP, or turning it into a charity, but most of that would require planning well ahead of the sale (or concurrence from the buyer).

Is this an investment or a charity?

You're running a business, not a charity. 

I'd think about it like this: 1) I agree that it seems hard to fathom a situation where you don't split out the land and parcel as a separate enterprise.2) It doesn't sound like this is a charity case for you, it sounds like a business deal.

You could just as easily donate whatever you feel is excess profit to a charity of your choice. 

While we all can feel for an older person on a fixed income, you are running a business here, not a charity.....If you really want to help, you can research and help her with housing options for low-income elderly.

By putting the captial gains in a foundation and donating 5% to a charity, we would eliminate the pass through income gains.

Kind of like donating to a charity. 

When self managing, you've got to remember its a business and not a charity.