"Investment property" - - in-laws are renting!?

Because of the fact that all the payments are in their name, they could deduct the interest paid on their taxes. As for the maintenance to the property, again, with all the receipts in their name, if you are ever audited, it will hard to explain that. If you are helping them out and it's only for a very short term, give the in-laws a break and let them write it all off, since it's really coming out of their pocket and not yours. That's only fair. If you are looking for any kind of return for the favor, usually what is done is there is either an agreed upon price that you will sell them the property at, with some profit or sell it to them at the appraised value at time of purchase. that's what is normally done to offset any benefits which they may be entitled to during the rental period.