Most people who invest in rental property do so with a profit motive, oftentimes raising the rents as high as they can in order to maximize their income. But in other situations, maximizing profits may not be the ultimate motive. Sometimes, a landlord may be willing to rent to a tenant at below fair market value. Examples include a parent renting a property to a child where the rent just covers the mortgage and utilities or when a landlord gives a deal to a friend. The IRS has very specific tax rules when it comes to below market rent…. and it generally isn’t good. Click below for detail.