It seems like a not-for-profit rental, which goes on Line 21 of your tax return ("other income"), not Schedule E as a rental property. If you were to start entering it as a Rental Property, the screen that asks for the number of rental days specifically say to treat rental days at less than FMV as personal days.
The depreciation and insurance would be limited to the category of 2% of your income, so they probably won't end up doing anything. For a not-for-profit rental, you leave all mortgage interest and real estate taxes on Schedule A.
So the 'net' result is that you would be adding $7200 of rent to you tax return, and due to the 2% limitation, there will probably not be an additional deductions.
This link should give you an idea for how to enter information on Line 21:
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