This misses the point of my post. I'm quite aware the Oubre cap hold remains if the other team matches.
You are factoring Oubre's cap hold into your cap space. You don't actually have the free space without renouncing Oubre, but because Oubre is a RFA, and you're offering a contract to another RFA, you're allowed to use your own player's cap hold to factor into your space. From what I understand, this is a loophole restricted to only other RFA's. You cannot factor Oubre's cap hold into your cap space if you go after an UFA. So, since this is a loophole, technicality, whatever, is there some catch, like if you use this loophole to make an offer to a RFA, and the RFA's team does not match, are you then bound by rule to renounce your own RFA to honor the contract? No other cap shaving measures allowed.